If the demand curve for product A moves to the right, and the price of product B increases, it can be concluded that: a-) A and B are substitute goods; b-) A and B are complementary goods; c-) A is an inferior good, and B is a superior good; d-) Both goods A and B are inferior.
If the demand curve for product A moves to the right, and the price of product B increases, it can be concluded that: a-) A and B are substitute goods; b-) A and B are complementary goods; c-) A is an inferior good, and B is a superior good; d-) Both goods A and B are inferior.
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 15CQ
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- If the
demand curve for product A moves to the right, and theprice of product B increases, it can be concluded that:
a-) A and B are substitute goods;
b-) A and B are complementary goods;
c-) A is an inferior good, and B is a superior good;
d-) Both goods A and B are inferior.
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