f the demand curve for Good A shifts leftward when the price of Good B decreases, these two goods are _________. Select one: a. complements b. inferior c. normal d. substitutes
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- A decline in the price of good A causes the demand curve for good B to shift to the right. We can conclude goods A and B are: complements normal goods inferior goods substitutesSuppose people buy more of good A when the price of good B rises. These goods are: substitutes compliments inferior Normalf a decrease in price of good X decreases the demand for good Y, which of the following statements are true: Good X and Good Y are substitutes Good X is inferior Good X and Good Y are complements Good Y is inferior
- Which of the following will not cause a good’s entire demand curve to shift? Group of answer choices: (A) A change in consumers' income. (B) A change in consumers' tastes or desires for the good. (C) A change in the availability and price of substitute goods. (D) A change in consumers' expectations. (E) A change in the current price of the good.A consumer buys two goods X and Y. Suppose price of Good X falls. What will be its effect on its demand? Give two reasonsalso with the questions in the picture : good 1 and 2 can be described as what : substitutes, elastic goods, unit elastic goods, inferior goods, complements, normal goods, inelastic goods. More than one answer is right
- All else equal, which is steeper, the demand curve for a normal good or the demand curve for an inferior good? Explainshift in demand or supply Suppose the price of muffins decreases. (Assume that people regard donuts and muffins as substitutes) What way would a supply curve shift to the left or to the right? what way would a demand curve shift to the left or to the right? If donuts are a normal good, this will cause the demand for donuts to either increase or decrease?If consumers consider chicken and turkey to be substitutes, and, ceteris paribus, the price of turkey increases, which of the following would we expect to occur? The supply curve for chicken would shift to the left. The demand curve for chicken would shift to the left. The supply curve for chicken would shift to the right. The demand curve for chicken would shift to the right.
- Assume that good Z is an inferior good for a consumer. If the consumer's income increases, thenA. the supply of good Z will increase.B. the supply of good Z will decrease.C. the demand of good Z will increase.D. the demand of good Z will decrease.People buy more of good 1 when the price of good 2 rises. These goods are A.substitutes. B.normal goods. C.inferior goods. D.complements.When the price of one good affect the demand for another good, then the goods are likely to be .......................... a) substitute or compliment goods b) of the same price c) from different company d) of the same product
