An increase in the price of one good can cause the demand for another good to increase if the goods are complements.
Answer the following statement true (T) or false (F)
False
If the price of a good increases, consumers will buy a lower quantity of that particular good along with fewer of the complementary goods regardless of the price of the complement.
Economics
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A monopolist faces an average total cost of $10 when it produces 400 units of its product. If it sells the 400 units at $6 per unit, ________
A) the monopolist makes a profit of $600 B) the monopolist makes a loss of $600 C) the monopolist makes a profit of $1,600 D) the monopolist makes a loss of $1,600
Economics
Which of the following is the best indicator of standard of living?
a. Nominal GDP b. Real GDP c. Real GDP per capita d. Productivity e. Productivity per unit of labor
Economics