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If demand for this product changed from D2 to D1 as a result of a increase in price of a related product, then these two products are

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

P
28
24
20
16
12
8
4
0
U
0 4 8
12
S1
16
D1
20
I
S2
D2
24 Q

If demand for this product changed from D2 to
D1 as a result of a increase in price of a related
product, then these two products are
a) complements.
b) substitutes.
c) inferior goods.
d) public goods.
e) economic goods.

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