What happens to the demand for Xbox games if the price of an Xbox falls?
A) The demand for Xboxes decreases because the price of a substitute falls.
B) The demand for Xboxes increases because the price of a complement falls.
C) The demand for Xboxes decreases because the price of a complement falls.
D) The demand for Xboxes remains unchanged.
B
Economics
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Using the information in Situation 20-1, if aggregate output equals $8,000, the unplanned inventory investment equals
A) -$100 B) $0 C) $100 D) $500
Economics
For which of the following goods is the income elasticity of demand likely to be largest?
a. poultry products b. meals at restaurants c. lemonade d. used books e. paperback mystery novels
Economics