1. Good A and Good B are perfect complements. Suppose the cost to produce good B rises. The price of Good A is most likely to: Choices: a. increase b: decrease c:stay the same   2. Good A and Good B are perfect substitutes. In increase in the price of good A will a. shift Good B’s demand curve to the right. b. shift Good B’s demand curve to the left. c. changes Good B’s quantity demanded

Q: coke and pepsi are substitute goods. if the price of coke skyrockets, then the demand for pepsi…

A: Two goods are said to be substitute goods when one good can be used in place of other. Price and…

Q: If the good is an older used version of the IPhone, .e.g. the IPhone 5 which costs less than $100 on…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: In which case does the demand curve not shift? a. When there is a change in the price of a…

A: In a market, demand curve show two types of effects such that change in quantity demanded and change…

Q: What does the concept of 'price elasticity of demand' in microeconomics measure?   A) The…

A: Price elasticity of demand (PED): It serves as an economic measure employed to assess the degree of…

Q: Give an example for substitutes, and give another example for complements. No need to explain. Do…

A: Goods which satisfy same type of wants and can be used in place of one another are called…

Q: a. Use supply and demand to graphically illustrate the equilibrium price and quantity of Pizza Hut…

A: The markets are the places where the buyers of goods, services and other products meet, and interact…

Q: Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer…

A: ANSThe consumers treat two goods as substitutes of each other if the level of satisfaction derived…

Q: Assuming Demand is downward sloping and Supply is upward sloping (as we usually do), what happens to…

A: The term balance in economics matters can be expressed as a place of rest or strength from where…

Q: a.) Graph Teddy's demand curve, with quantity on the x-axis. Suppose there is another consumer in…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: f Cody's demand for grapefruit rises when the price of oranges rises, then for Cody a. Oranges are a…

A: When the cody demand for grapefruit rises with the rise in price of orange represents that the two…

Q: Consider the market for lattes. If consumers view cappuccinos and lattes as substitutes, what would…

A: Given cappuccinos and latte as substitutes. Therefore as the price of cappuccinos decreases, the…

Q: 2. If income doubles and the quantity demanded of god X more than doubles, then good X can be…

A: In order to answer the above question, we need to first understand the concept of income elasticity…

Q: The income of consumer has got increased and the consumer's demand for good X has also increased.…

A: If the consumer's income is increasing this means that the consumer can now afford more goods and…

Q: For a particular good, a 10 percent increase in price causes a 15 percent decrease in quantity…

A: The elasticity of demand is the degree of responsiveness from the part of the consumer towards the…

Q: Consider the markets for film streaming services,TV screens,and tickets at movie theaters.a.For each…

A: A Complementary Good is defined as a good that is used in conjunction with another good. This kind…

Q: If a good is an inferior good, then its A .demand curve will be upward sloping. B.income elasticity…

A: Elasticity of demand refers to the responsiveness of quantity demanded with respect to change in…

Q: An increase in demand means that: a. when the price falls, consumers are willing to purchase greater…

A: Demand curve shows inverse relationship between price and quantity demanded.

Q: Consider the markets for film streaming services, TV screens, and tickets at movie theaters. a. For…

A: a) Film streaming and TV screens: These are complementary goods as films would be streamed at TV…

Q: At the beginning of the pandemic, millions of people became unemployed. Around the same time, the…

A: Based on the type of relationship between income and demand of good, goods are classified as…

Q: A fall in the price of a good causes producers to reduce the quantity of the good they are willing…

A: The options are analyzed below – A) The prime determinant of supply for a good is its price. The…

Q: Suppose airline tickets and hotel rooms are complements. If the price of airline tickets decreases,…

A: When two goods are considered as complementary, they are  directly related to each other because…

Q: Which of the following would cause a shift in the demand curve from point A to point B? OA. An…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…

Q: When there is an increase in demand, A. the demand curve shifts to the right of the original demand…

A: Consumer demand is the main driving force of supply in an economy. When there is an increased demand…

Q: what does it mean when a good shifts to the left on a demand curve

A: A good on a demand curve that moves to the left indicates a decline in demand for that specific…

Q: Good A (an inferior good) and Good B (a normal good) are viewed by consumers to be substitute…

A: An inferior good is a good for which the demand decreases with an increase in income. For normal…

Q: Explain How the market demand curve for a 'normal' good will shift (i.e. left,right or no shift) in…

A: In a market, When talking about a normal good, demand curve will shift leftward when there is a…