Two goods are substitutes when a decrease in the price of one good
a. decreases the demand for the other good
b. decreases the quantity demanded of the other good.
c. increases the demand for the other good.
d. increases the quantity demanded of the other good.
a
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Collusion is a key type of cooperation for
A. maximizing revenue. B. monopolistic competition. C. becoming a monopoly. D. cartels.
In the United States, the main source of fluctuations in the current account balance is
A) exports of capital. B) net transfers. C) international debt. D) net exports. E) net interest.
The above table shows production combinations on a country's production possibilities frontier. What is the opportunity cost of increasing the production of X from 0 to 3 units?
A) 40 units of good Y per unit of good X B) 3 units of good Y per unit of good X C) 4/3 units of good Y per unit of good X D) 0 units of good Y per unit of good X
Many bars close to campuses have started offering cheaper beer to consumers with a student ID. These bars
a. Assume students have a inelastic demand curve b. Assume students have an elastic demand curve c. Are practicing price discrimination d. Both b and c