If X and Y are substitutes, and if the marginal cost of producing X increases, which of the following WILL occur? 1. The quantity demanded of X will decrease. II. The equilibrium price of Y will increase. III. The supply of X will increase.

If X and Y are substitutes, and if the marginal cost of producing X increases, which of the following WILL occur? 1. The quantity demanded of X will decrease. II. The equilibrium price of Y will increase. III. The supply of X will increase.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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