ect one: a. an increase in Collegeville's student population b. a decrease in the price of beef patties ( a substitute to hamburgers) a decrease in the price of fries (a complement to hamburgers) coupled with a reduction in the wages restaurant employees C. a technological improvement in the production of hamburgers coupled with consumer concern about cow disease d. O e. an increase in the price of hotdogs (a substitute to hamburgers) coupled with an increase in the wage restaurant employees
ect one: a. an increase in Collegeville's student population b. a decrease in the price of beef patties ( a substitute to hamburgers) a decrease in the price of fries (a complement to hamburgers) coupled with a reduction in the wages restaurant employees C. a technological improvement in the production of hamburgers coupled with consumer concern about cow disease d. O e. an increase in the price of hotdogs (a substitute to hamburgers) coupled with an increase in the wage restaurant employees
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In financial matters, two products are complements when we can't consume one good without consuming other. This doesn't imply that we really wanted to consume similar measure of the two products, simply that the two goods should be consume in specific extents. A vehicle and the gas, for instance, are a genuine illustration of complements goods. And also when the two goods are complements, decrease in price of one good increases the demand for other.
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