An increase in the price of a complement good brings about a(an)        increase in quantity demanded of the substitute good.       decrease in quantity demanded of the substitute good.       increase in quantity demanded of the main good.       decrease in quantity demanded of the main good.

Q: X is an inferior good.  If there is an increase in incomes, then…

A: Inferior goods are the goods whose demand decreases when income rises or the demand increases when…

Q: If orange juice is considered a normal good, then an increase in income in Ventura will have the…

A: Demand curve shows an inverse relationship between price and quantity demanded. It slopes does…

Q: The quantity demanded of walnuts is greater than the quantity supplied.

A: Answer for 34th Question The correct option is (d) The quantity demand of  walnuts is greater than…

Q: increase in money incomes if X is a normal good. increase in the price of substitute product Y.

A: Increase in the price of substitute of product y.

Q: An inferior good is a product:       for which demand decreases as income increases.…

A: Inferior commodities are those whose demand falls as the income of the people rises.

Q: If a decrease in the price of product X causes the demand for product Z to decrease, then product Z…

A: A normal good follows law of demand which states that there exist inverse relationship between price…

Q: An increase in demand for a good may be caused by a decrease in the price of *         the good.…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: A given change in demand will yield a larger change in the quantity supplied A. the more elastic is…

A: Answer is given below

Q: Equilibrium is achieved when quantity demanded intersect with quantity supplied. Assume aproduct…

A: Hello, Thank you for the question. Since there are multiple subpart questions posted here, as per…

Q: If the demand for a good is inelastic, an increase in the price of the good will cause the total…

A: To find:  If the demand for a good is inelastic, an increase in the price of the good will cause the…

Q: unit of good X is sold for RM2, and a unit of good Y is sold for RM4. Both are complementary goods.…

A: If two goods are complementary in nature then increase in price of one good leads to decrease in the…

Q: An inferior good is a good whose income elasticity of demand is less than 0. True False

A: In economics, an inferior good is one whose demand falls as consumer income rises, as opposed to…

Q: An increase in the price of a complement good brings about a(an) *   A. increase in quantity…

A: The demand is the quantity demanded of a particular good which is being demanded by the consumers.…

Q: The demand curve A indicates that

A: Demand curve A is perfectly inelastic demand curve. Here the elasticity would be zero.

Q: A product with an inelastic demand means that consumers are relatively insensitive to a change in…

A: Elasticity measures the responsiveness of change in quantity demanded due to change in price. It is…

Q: If with the increase in income the quantity demanded for a good decreases then the good is known as

A: The good is known as INFERIOR GOOD

Q: When a good has few close substitutes readily available: Elasticity cannot be measured. Price tends…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for…

A: Demand is the quantity of consumers who are willing and ready to purchase products at different…

Q: If income increases or the price of a complement falls,A) the supply curve of a normal good shifts…

A: If income increases or the price of a complement falls,A) the supply curve of a normal good shifts…

Q: If the demand for a good is inelastic, an increase in its price will cause the total expenditure of…

A: Elasticity of demand measures the responsiveness of quantity demanded changes as a result of price…

Q: he cross price elasticity of demand for a good is the percentage change in the quantity demanded in…

A: The cross elasticity of demand refers to the measurement of the responsiveness in the quantity…

Q: If a 4 percent change in the price of a good leads to a 3 percent change in quantity demanded, the…

A: Elasticity can be defined as a change in one variable relative to a change in the other. Price…

Q: The value of cross-price elasticity of demand between goods X and Y is 1.25, while the cross-price…

A: Given that , The value of cross price elasticity of demand between goods X and Y is 1.25 , while the…

Q: In case of complementary goods, a rise in price of Good X causes a rise in demand for Good Y. A True…

A: Ans in step 2

Q: If the price of one good decreasing causes the price of another good to increase, then: a. demand is…

A: Substitute good – a good in which can substitute for another good (competitor’sgood). An increase…

Q: The demand curve for a good is horizontal when it is:* a perfectly inelastic good. a unitary…

A: "In economics, demand curve represents the inverse relation between price of a product and quantity…

Q: An increase in the supply of music downloads indicates that more music downloads will be…

A: Here, it is given that the supply of music downloads is increased in the market.

Q: Demand for the desired quantity of a good that is backed by the ability to buy that good is known…

A: The economic law of demand portrays the negative relationship between the desired units demanded of…

Q: A normal good is defined as a good for which the demand curve A. shifts leftward as income…

A: Normal goods are one of the types of classification of goods. Other types of classification are…

Q: Question 8 If a rise in the price of good X results in the amount of money spent on good Y…

A: At the marketplace, two goods are related to each other when a change in the price of one good…

Q: An increase in the price of good B caused an increase in the demand for good C. This indicates that

A: An increase in the price of good B caused an increase in the demand for good C. This indicates that…

Q: percent decrease in the price of avocados leads to a 20 percent increase in the quantity of salsa…

A: Complementary goods are those goods where change in price of one good leads to change in the demand…

Q: Which of the following statements are true? (i) The absolute value of the price elasticity of demand…

A: (i) The absolute value of the price elasticity of demand is greater when substitutes are available.…

Q: An increase in consumer income will cause a decrease in the demand for an inferior good.  A.True…

A: The demand refers to the quantity of goods that a consumer is able and willing to purchase at a…

Q: An increase in quantity demanded caused by change in the price ......................... a)…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Q: A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is…

A: "Elasticity is a measure of responsiveness of one variable with respect to another. When the…

Q: Which of the following is not a factor that could cause a shift in the demand curve for a certain…

A: Demand curve shows different levels of quantity demanded at different price levels.

Q: The supply of product X is perfectly inelastic if the price of X rises by Multiple Choice 4 percent…

A: Perfect inelastic supply means there is inelastic supply irrespective of the change in price. It…

Q: Suppose there is a 6 percent increase in the price of good X and a resulting 6 percent decrease in…

A: Elasticity of demand measures the responsiveness of quantity demanded with respect to change in…

Q: An increase in quantity demanded is caused by an increase in the price of a substitute of the…

A: When other terms/factors remaining similar/constant, there is a negative association between the P…

Q: Assume that a 5 percent increase in income across the economy produces a 5 percent decrease in the…

A: Income elasticity measures the percentage change in quantity demand due to percentage change in…

Q: If the demand for a product is elastic, then a rise in price will     keep total spending the…

A: The quantity demanded of a good refers to the amount of the good the consumers of the good are able…

Q: f the demand curve for Good A shifts leftward when the price of Good B decreases, these two goods…

A: Change in demand occurs due to change in non price factors. Change in quantity demanded occurs due…

Q: Cross elasticity of demand, which measures the relationship between substitutes and complements, is…

A: Cross price elasticity of demand states the measure of relationship between the two goods. If the…

Q: All normal goods have A. income elasticities of demand greater than 1.0. B. price elasticities of…

A: Income elasticity of demand measures the responsiveness of change in demand due to change in income…

Q: price elasticity of demand for earbuds amongst high school students is -2.35. Which of the

A: Price elasticity of demand for earbuas amongst high school students is - 2.35  Here minus sign shows…