Changes in the price of other goods lead to

A. a change in quantity demanded.
B. a change in demand.
C. a movement along the demand curve.
D. no change in the demand curve.


Answer: B

Economics

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Refer to the graph below. Assume the consumer has an income of $100, the price of X is $2 and the price of Y is $1. According to the graph, the substitution effect of a decrease in the price of X from $2 to $1 is equal to:  

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A determinant of the price elasticity of supply that is also a determinant of the price elasticity of demand is:

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