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
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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
Income distribution in the United States over the past 40 years has become more equal
Indicate whether the statement is true or false
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
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.