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Assume That Goods X and Y Are Substitutes and Are

Question 44

Multiple Choice
Assume that goods X and Y are substitutes and are produced in perfectly competitive markets.All else constant,in the short run,a decrease in the supply of good X would cause:

Assume that goods X and Y are substitutes and are produced in perfectly competitive markets.All else constant,in the short run,a decrease in the supply of good X would cause:


A) an increase in the demand for good Y.
B) a decrease in the demand for good Y.
C) an increase in the supply of good Y.
D) a decrease in supply of good Y.

Correct Answer:

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