There is a negative relationship between the price of fuel and quantity demanded for cars, as these two goods are O a. Substitute goods O b. Normal goods Oc Complementary goods O d. Inferior goods Which of the following factors cause a contraction in quantity demanded for a commodity? O a. A rise in the price of the commodity O b. A decrease in the price of complementary goods Oc An increase in the price of its substitutes O d. An increase in the taste and preferences of the consumer for the commodity
There is a negative relationship between the price of fuel and quantity demanded for cars, as these two goods are O a. Substitute goods O b. Normal goods Oc Complementary goods O d. Inferior goods Which of the following factors cause a contraction in quantity demanded for a commodity? O a. A rise in the price of the commodity O b. A decrease in the price of complementary goods Oc An increase in the price of its substitutes O d. An increase in the taste and preferences of the consumer for the commodity
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 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...
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![There is a negative relationship between the price of fuel and quantity demanded for cars, as these two goods are
O a. Substitute goods
O b. Normal goods
Oc Complementary goods
O d. Inferior goods
Which of the following factors cause a contraction in quantity demanded for a commodity?
O a. A rise in the price of the commodity
O b. A decrease in the price of complementary goods
Oc An increase in the price of its substitutes
O d. An increase in the taste and preferences of the consumer for the commodity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7d2176b-4a6a-4782-98dd-9daa35c6204b%2F0a5f3f91-5335-4bda-8dfe-6bb9ac9f9fba%2Fc2ztoh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:There is a negative relationship between the price of fuel and quantity demanded for cars, as these two goods are
O a. Substitute goods
O b. Normal goods
Oc Complementary goods
O d. Inferior goods
Which of the following factors cause a contraction in quantity demanded for a commodity?
O a. A rise in the price of the commodity
O b. A decrease in the price of complementary goods
Oc An increase in the price of its substitutes
O d. An increase in the taste and preferences of the consumer for the commodity
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