Suppose that, following a decrease in the supply of good X, we observe that the price of good Y increases. If no other curves have shifted, which of the following can we infer? O A. None of the above. O B. Good X is an inferior good. O C. Goods X and Y are complements. O D. Goods X and Y are substitutes.

Suppose that, following a decrease in the supply of good X, we observe that the price of good Y increases. If no other curves have shifted, which of the following can we infer? O A. None of the above. O B. Good X is an inferior good. O C. Goods X and Y are complements. O D. Goods X and Y are substitutes.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 11RQ: As a general rule, is it safe to assume that a change in the price of a good will always have its...

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