1. Classify each pair of goods as substitutes, complements, or independent. - shoes and sandals - beef and chicken - peanut butter and lumber - wine and cheese - tables and chairs - shampoo and conditioner

1. Classify each pair of goods as substitutes, complements, or independent. - shoes and sandals - beef and chicken - peanut butter and lumber - wine and cheese - tables and chairs - shampoo and conditioner

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Classify each pair of goods as substitutes, complements, or independent.

- shoes and sandals

- beef and chicken

- peanut butter and lumber

- wine and cheese

- tables and chairs

- shampoo and conditioner

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Figure 4-6Refer to Figure 4-6. The movement from D’ to D could be caused by a. an increase in the price of a complement. b. a decrease in income, assuming the good is inferior. c. a decrease in price. d. buyers expecting the price of the good to fall in the near future.
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