Refer to the following:
A firm sells two goods (X and Y) that are related in consumption. The estimated inverse demand and cost functions are:

$$\begin{array} { l }
P _ { X } = 105 - 0.5 Q _ { X } - 0.75 Q _ { Y } \
P _ { Y } = 120 - Q _ { Y } - 0.5 Q ^ { 2 } \
M C _ { X } = 10 + 0.25 Q _ { X } \
M C _ { Y } = 16 + 0.5 Q _ { Y }
\end{array}$$
-Good X and Y are:
A) complements
B) substitutes
C) independent
D) normal
E) inferior

Question

Refer to the following:
A firm sells two goods (X and Y) that are related in consumption. The estimated inverse demand and cost functions are:
 
 $$\begin{array} { l } 
P _ { X } = 105 - 0.5 Q _ { X } - 0.75 Q _ { Y } \
P _ { Y } = 120 - Q _ { Y } - 0.5 Q ^ { 2 } \
M C _ { X } = 10 + 0.25 Q _ { X } \
M C _ { Y } = 16 + 0.5 Q _ { Y }
\end{array}$$ 
-Good X and Y are:
A) complements
B) substitutes
C) independent
D) normal
E) inferior

Quizplus · Accepted Answer

The Answer of Refer to the following:
A firm sells two goods (X and Y) that are related in consumption. The estimated inverse demand and cost functions are:
 
 $$\begin{array} { l } 
P _ { X } = 105 - 0.5 Q _ { X } - 0.75 Q _ { Y } \
P _ { Y } = 120 - Q _ { Y } - 0.5 Q ^ { 2 } \
M C _ { X } = 10 + 0.25 Q _ { X } \
M C _ { Y } = 16 + 0.5 Q _ { Y }
\end{array}$$ 
-Good X and Y are:
A) complements
B) substitutes
C) independent
D) normal
E) inferior

Refer to the Following: a Firm Sells Two Goods (X

Refer to the Following:
a Firm Sells Two Goods (X