If two goods are substitutes, then O an increase in the price of one causes the demand for the other to fall. O there is an inverse relationship between changes in the price of one good and changes in the demand for the other. O if the price of one good falls, the demand for the other good falls also. O changes in the quantity demanded of one good will not affect the demand for the other.

If two goods are substitutes, then O an increase in the price of one causes the demand for the other to fall. O there is an inverse relationship between changes in the price of one good and changes in the demand for the other. O if the price of one good falls, the demand for the other good falls also. O changes in the quantity demanded of one good will not affect the demand for the other.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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