Goods which are demanded to produce something else are said to have a(n):
a. direct demand.
b. composite demand.
c. derived demand.
d. joint demand.
e. inelastic demand.
c
Economics
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Oatmeal is a normal good and cold cereal is a substitute for oatmeal. Raisins are a complement for oatmeal. Which of the following increases the demand for oatmeal?
A) an increase in the price of raisins B) a decrease in income C) a decrease in population D) an increase in the price of cold cereal
Economics
On a downward-sloping linear demand curve, demand becomes more inelastic as price decreases.
Answer the following statement true (T) or false (F)
Economics