If your purchases of good A decrease from 11 units per year to 9 units per year when the price of good B increases from $8 to $12,all other things equal,for you,good A and good B are considered _____ goods.
A) inferior
B) luxury
C) substitute
D) complementary
Correct Answer:
Verified
Q127: If two goods are substitutes,their cross-price elasticity
Q128: The pair of items that is likely
Q129: If the income elasticity of demand for
Q130: Goods are _ when the cross-price elasticity
Q131: If two goods are complements,their cross-price elasticity
Q133: The percent change in quantity demanded of
Q134: The pair of items that is MOST
Q135: If your purchases of good A remain
Q136: If your purchases of good A increase
Q137: If you know the cross-price elasticity between
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents