Consider two goods, X and Y. If the price of Y increases and, as a consequence, the demand curve for X shifts to the left, then: X and Y are substitutes. X and Y are complements. X and Y are unrelated. X and Y are inferior goods.
Consider two goods, X and Y. If the price of Y increases and, as a consequence, the demand curve for X shifts to the left, then: X and Y are substitutes. X and Y are complements. X and Y are unrelated. X and Y are inferior goods.
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 3SQ
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Consider two goods, X and Y. If the price of Y increases and, as a consequence, the
- X and Y are substitutes.
- X and Y are complements.
- X and Y are unrelated.
- X and Y are inferior goods.
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