If the price of shirts increases:
A) there is a decrease in the demand for shirts and a decrease in the demand for neckties
B) there is a decrease in the quantity demanded for shirts and a decrease in the demand for neckties
C) there is a decrease in the demand for shirts and a decrease in the quantity demanded for necktie s
D) there is a decrease in the demand for shirts and an increase in the demand for neckties
Correct Answer:
Verified
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A) the
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Q24: Luxury goods are also:
A) inferior goods
B) expensive
Q25: An inferior good:
A) has a negative arc
Q26: Demand is about:
A) Consumers
B) Producers
C) Firms
D) the
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