Suppose good 1 and good 2 are complements. If the price of good one decreases, this will cause:
A) a decrease in demand for good 1.
B) an increase in demand for good 2.
C) an increase in the demand for good 1.
D) a decrease in demand for good 2.
Correct Answer:
Verified
Q53: A decrease in supply will result in:
A)
Q54: All of the following will cause a
Q55: An increase in the price of tennis
Q56: An increase in supply means that:
A) producers
Q57: An increase in supply will result in:
A)
Q59: If quantity supplied exceeds quantity demanded, we
Q60: The law of supply states that holding
Q61: A deficiency payment is:
A) the difference between
Q62: The decline in farm population has been
Q63: A target price program will:
A) lower prices
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents