If the price of potato chips increases, the demand for potato-chip dip will
a. remain unchanged but the quantity demanded will increase
b. increase, because the goods are substitutes
c. decrease, because the goods are substitutes
d. decrease, because the goods are complements
e. increase, because the goods are complements
D
You might also like to view...
What is a discouraged worker? How do they affect the unemployment rate?
What will be an ideal response?
The real interest rate tells you
a. how fast the number of dollars in your bank account rises over time. b. how fast the purchasing power of your bank account rises over time. c. the number of dollars in your bank account today. d. the purchasing power of your bank account today.
If the market price is above the equilibrium price:
a. A surplus will occur and producers will produce less and lower prices b. Producers will make extremely high profits c. A surplus will result and consumers will bid prices up d. A shortage will occur and producers will produce more and lower prices
At prices below a consumer's willingness to pay:
A. the buyer will participate in the market because the opportunity cost is less than the benefit from consuming the good. B. the buyer will participate in the market because the opportunity cost is more than the benefit from consuming the good. C. the buyer will not participate in the market because the opportunity cost is less than the benefit from consuming the good. D. the buyer will not participate in the market because the opportunity cost is more than the benefit from consuming the good.