Changes in the price of good A lead to a change in:

A. the quantity demanded of good A.
B. demand of good B.
C. the quantity demanded of good B.
D. demand of good A.


Answer: A

Economics

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The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713The consumption of which candy bar yields the greatest marginal utility?

A. seventh B. sixth C. fifth D. first

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Income distribution in the United States over the past 40 years has become more equal

Indicate whether the statement is true or false

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The Phillips Curve shows the trade-off between

a. unemployment and output b. inflation and output c. rates of unemployment and inflation d. imports and exports e. unemployment and inflation

Economics

If the income elasticity of a good is positive, we can conclude that the good is

a. an inferior good. b. a normal good. c. a luxury good. d. a necessity.

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