If two goods are substitutes, a decline in the price of one will cause an increase in the demand for the other.  A.True B.False

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: iPhones are mostly made of aluminum. Assume that iPhones are normal goods and that their substitutes…

A: Equilibrium in the market occurs at the intersection of demand and supply curves

Q: Which of the following statement is correct about the Law of Demand? Group of answer choices When…

A: Demand refers to quantity what a consumer is willing to buy. Quantity demanded refers to the…

Q: An economist notes that demand for Brand A increases when the price of Brand B decreases. We can say…

A: Demand for a good can change due to change in price of its own good as well as change in price of…

Q: If we have two substitute goods, then a decrease in the price of one will lead to increase in the…

A: In a market, two goods can be related to each other in terms of their demand, such that a change in…

Q: Assuming tea and coffee are substitutes, what will happen in the market for coffee if the price of…

A:

Q: A consumer buys two goods X and Y. Suppose price of Good X falls. What will be its effect on its…

A: # The consumer will work accordingly to the law of demand which means if price falls then the demand…

Q: Suppose Pepsi and coke are substitutes. A fall in the price of Pepsi will cause

A: Related goods are of two types:-substitute goods and complements. Substitutes goods are those goods…

Q: When The price of good X falls then the demand for Good Y rise.  State where Good X and Good Y are…

A: # substitute goods are those goods which can be used on place of each other and on the other hand…

Q: If the quantity demanded of good X decreases, then: *

A: A consumer's desire to buy products and services, as well as their willingness to pay a price for…

Q: If two goods are substitutes, what happens if there is a decrease in the price of one good?…

A: Substitute goods are known or considered to be as those goods which are alternative and which can be…

Q: Suppose goods A and B are substitutes. If the price of good A increases, will the demand for good B…

A: Substitute goods are those goods that can be consumed by an individual in place of each other by the…

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: Peanut butter and jam can be either substitutes or it can be compliments. Caitlin likes peanut…

A: The relationship between these items is identified using the cross elasticity of demand. When two…

Q: If a decrease in the price of laptops causes thedemand for cell phones to increase, are laptops…

A: The quantity of a product that the consumer decides to purchase can increase or decrease with the…

Q: Are beer and pretzels complements or substitutes?

A: Answer:- Yes beer and pretzels are substituted as pretzels are being substituted by relatively…

Q: Two goods are substitutes if a decrease in the price of one good. This will lead to: Select one: a.…

A: Substitute goods are those goods that fully fill the need for other goods, the change in the price…

Q: What is the difference between substitutes and complements? Indicate two goods that are substitutes…

A: Two goods are said to be substitutes of each other if they can be easily replaced with each other.…

Q: Don't use Ai True or False: The law of demand states that, all else being equal, as the price of a…

A: The demand for a good or service refers to the quantity of the good or service that is demanded by…

Q: Based on the diagram, are beer and pretzels complements or substitutes?

A: Complementary commodities are those commodities which are used together. When the price of one good…

Q: If two commodities are substitutes, a change in the price of the one, ceteris paribus, cause a…

A: Substitute goods refer to the goods that can be replaced by other goods as they serve some purpose…

Q: Motorcycles and bicycles are substitutes under demand. The following questions relate to the bicycle…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Q: Good B and Good A are substitutes. If the price of Good A rises, what will happen to the demand…

A: Good B and Good A are substitutes. If the price of Good A rises, consumers substitute good B for…

Q: In Mexico, NAFTA had the result of lowering the price of used cars. Consider the effect of the…

A: Substitute goods are products that can be used in place of one another to satisfy a particular want…