Annabelle typically drives her car to school, but she lives near a bus stop and is willing to take the bus instead. If the price of a bus ticket falls, what would happen in the market for cars?
Annabelle typically drives her car to school, but she lives near a bus stop and is willing to take the bus instead. If the price of a bus ticket falls, what would happen in the market for cars?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Annabelle typically drives her car to school, but she lives near a bus stop and is willing to take the bus instead. If the
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Introduction
Two goods are considered substitutes in economics if they can both satisfy the same need. In the event of price adjustments, consumers have the option to switch from consuming one good to another.
Contrarily, complimentary commodities are utilised together and have a negative association. For instance, the needs for bread and peanut butter are jointly satisfied.
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