If an increase in the price of one good causes the demand curve for another good to shift to the left, then the two goods are:
A. substitutes.
B. complements.
C. normal.
D. unrelated.
B. complements.
You might also like to view...
Goods commonly produced by colonial households included:
a. clothing. b. bread and hardtack. c. beer and whiskey. d. jellies and jams. e. All of the above.
The budget constraint 12,000 = 2X + 4Y has a slope equal to –2 where Y is on the vertical axis
Indicate whether the statement is true or false
The demand curve facing a monopolist is
A. horizontal at the market price. B. identical to the market demand curve for the good. C. exactly twice as steep as the market demand curve for the good. D. vertical because there are no competitors.
A point inside the production possibilities curve represents a combination of goods that is
a. inefficient. b. efficient. c. unattainable. d. attainable.