Which of the following pair of goods are Substitute goods:- (A) Bread and butter (B) Tea and sugar (C) Pen and ink (D) None of the above

Q: Is sugar and tea Substitute goods?

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Q: Which of the following is an example of Substitute goods (1) tea and sugar (2) tea and coffee (3)…

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A: Meaning of durable goods.

Q: are goods which are used together or jointly. a. Inferior goods b. Complementary goods c. Substitute…

A: Substitute goods are those goods which can be used alternatively or in place of one another and both…

Q: What is the equilibrium price? (please make sure to input only the numerical answer without any…

A: Equilibrium is the state in which the quantity demanded of a good or service is equal to the…

Q: 1. Assume coffee and tea are substitute goods. The price of coffee decreases but the price of tea…

A: Market equilibrium: At the market equilibrium demand equals supply. Or at market equilibrium point…

Q: Why has there been such a surge in the number of different products available in our economy?

A: Market is defined as a place or situation when buyers and sellers come together to exchange goods…

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Q: an example of derived demand is the demand for: a. machines by businesses b. agricultural products…

A: Demand for goods and services that are not being done for final consumption is derived demand.

Q: Quantity Quantity Price supplied demanded (dollars per pound) (pounds) (pounds) 3 7. 2 4. 2. 1 The…

A: Answer to the question is as follows:

Q: Explain differences between a “change in demand” and a “change in quantity demanded.” (2) Find an…

A: Answer: The difference between the "change in demand" and a "change in quantity demanded" is given…

Q: Akua is a School of Agriculture graduate and consumes 2 goods: Yoghurt and Bread. Akua also earns a…

A: The following problem has been answered as follows:

Q: People buy more of Pepsi when the price of Coke rises. These goods are

A: 1. Substitute goods - These are the goods which can substitute each other i.e. we can use one good…

Q: 2. How do the changes in the following factors affect the demand for a commodity? (a) Price (b)…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: In this market, the equilibrium price is 5 per box, and the equilibrium quantity of oranges is…

A: The line quantity demanded is the line which is demanded by the general consumers and the line…

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Q: Figure 13-1: Supply Curve Price $1.00 .90 .80 .70 .60 .50 .40 .30 .20 .10 0 2 4 6 Supply 8 10 12…

A: The entire quantity of a certain product or service that is made accessible to customers is referred…

Q: 43. If Mary's income increases and she consumes less rice. Therefore, rice is: 44. If the price of…

A: Inferior Goods: Inferior goods are goods for which demand increases as consumer incomes fall. They…

Q: a. For 2018, 2019, and 2020, determine the amount that a typical consumer pays each year to purchase…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: _______ Refers To an upper limit on the amount of a commodity that can be purchased by an individual…

A: In the given question The term commodity basically refers to an agriculture product or a particular…

Q: of good is an example of Substitute goods:- (a) Fountain pen and ink (b) juice and cold drink (c)…

A: Substitute goods are those goods which can be used in place of one another as they have the same…

Q: These are good that are scarce relative to the demand for them. a. economic goods b. luxury goods c.…

A: In an economy, resources are scarce and Human wants are unlimited so resources should be allocated…