Assume that black beans and rice are staples in the diet of one particularfamily.How could you tell if these goods were complements, substitutes, orunrelated goods?
A) If the price of black beans rose and the consumption of rice remained the same, they would be substitutes.
B) If the price of black beans rose and the consumption of rice increased, they would be substitutes.
C) If the price of black beans rose and the consumption of rice decreased, they would be substitutes.
D) If the price of black beans rose and the consumption of both goods remained the same, they would be
Complements.
E) There is no way to determine whether these goods are complements, substitutes, or unrelated goods.
Correct Answer:
Verified
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