An increase in the price of product A will:

A. increase the demand for complementary product C.
B. increase the demand for substitute product B.
C. reduce the demand for resources used in the production of A.
D. reduce the demand for substitute product B.


Answer: B

Economics

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Indicate whether the statement is true or false

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Refer to the information provided in Figure 3.16 below to answer the question(s) that follow. Figure 3.16Refer to Figure 3.16. When the economy moves from Point E to Point B, there has been

A. a decrease in supply and an increase in quantity demanded. B. a decrease in supply and an increase in demand. C. an increase in supply and an increase in quantity demanded. D. an increase in both supply and demand.

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An example of a market failure is when:

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