If a 10 percent increase in the price of Good A results in an increase of 5 percent in the quantity demanded of Good B, then it can be concluded that Goods A and B are
A)complementary goods.
B)substitutes goods.
C)independent goods.
D)normal goods.

Question

Quizplus · Accepted Answer

When the price of Good A increases and the demand for Good B increases, it indicates that consumers are turning to Good B as an alternative, suggesting that Goods A and B are substitutes.

If a 10 Percent Increase in the Price of Good