Two goods are considered substitutes only if a(n) :
A) decrease in the demand for one good leads to a decrease in the supply of the other.
B) increase in the demand for one good leads to a decrease in the supply of the other.
C) increase in the price of one good leads to an increase in the demand for the other.
D) decrease in the price of one good leads to an increase in the demand for the other.
E) decrease in the supply of one good causes producers to switch to production of the other.
Correct Answer:
Verified
Q31: The income effect refers to the impact
Q32: If the price of vanilla ice cream
Q33: If Good B is a complement to
Q34: If demand for personal computers increases as
Q35: Which of these can possibly account for
Q37: Which of the following is most likely
Q38: Which of the following will cause the
Q39: Which of these is most likely to
Q40: If butter and margarine are substitute goods,an
Q41: A change in money income of consumers
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