Which of the following statements is correct?
A) An increase in the price of C will decrease the demand for complementary product D.
B) A decrease in income will decrease the demand for an inferior good.
C) An increase in income will reduce the demand for a normal good.
D) A decline in the price of X will increase the demand for substitute product Y.
Correct Answer:
Verified
Q24: If the demand curve for product B
Q25: In 2018, the price of oil increased,
Q26: Other things equal, which of the following
Q27: Running shoes and staplers are
A) substitute goods.
B)
Q28: The demand for most products varies directly
Q30: If the price of product L increases,
Q31: Which of the following will not cause
Q32: An economist for a bicycle company predicts
Q33: If X is a normal good, a
Q34: If two goods are complements,
A) they are
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