Good B and Good A are substitutes. If the price of Good A rises, what will happen to the demand curve of Good B?

Q: coke and pepsi are substitute goods. if the price of coke skyrockets, then the demand for pepsi…

A: Two goods are said to be substitute goods when one good can be used in place of other. Price and…

Q: Does a change in consumers’ tastes lead to a movement along the demand curve or a shift in the…

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Q: Goods A and B are substitutes in production. The price of good A rises. As a result, the equilibrium…

A: Meaning of Production Function: The term production function refers to the situation under which a…

Q: A decline in the price of good A causes the demand curve for good B to shift to the right.  We can…

A: The demand changes of one good related to the price changes of another good is known as the cross…

Q: An economist notes that demand for Brand A increases when the price of Brand B decreases. We can say…

A: Demand for a good can change due to change in price of its own good as well as change in price of…

Q: How to draw supply and demand curves for good 1 and good 2, respectively?

A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…

Q: demanded?

A: Demand(D) is the quantity(Q) of a commodity that an individual is willing and able to buy at a given…

Q: The prices of both goods rise by 20%.  ​For which good does Qd drop the most? Why?​For a narrowly…

A: The substitutes are those goods and services which are substitutable in nature and can be replaced…

Q: An economist for a bicycle company predicts that, other things equal, a rise in consumer incomes…

A: Normal goods are goods with positive income elasticity of demand. This means that a rise in income…

Q: What can we expect to occur to hot dog buns if the price of hot dogs were to decrease?

A: Law of demand - If other things remains constant, decrease in price of a good will increase the…

Q: Movie tickets and DVDs are substitutes. If the priceof DVDs increases, what happens in the market…

A: Substitute products are ones that can be utilized in lieu of each other with equal ease and comfort…

Q: Assuming tea and coffee are substitutes, what will happen in the market for coffee if the price of…

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Q: If coffee and tea are substitutes, then an increase in the price of coffee a. Shifts the demand…

A: In a market, when two goods are substitutes, their cross price elasticity is positive as the…

Q: Suppose Pepsi and coke are substitutes. A fall in the price of Pepsi will cause

A: Related goods are of two types:-substitute goods and complements. Substitutes goods are those goods…

Q: How do changes in income affect the demand for a good? Also show your answer with a graph.

A: A consumer's desire to buy goods and services, as well as their readiness to pay a price for such…

Q: When The price of good X falls then the demand for Good Y rise.  State where Good X and Good Y are…

A: # substitute goods are those goods which can be used on place of each other and on the other hand…

Q: People buy more of good 1 when the price of good 2 rises. These goods are: a. Substitutes b.…

A: The relationship between the two goods depends on the direction of change in demand when the price…

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: (a) The price of coffee rises, hence the demand for coffee falls. If the demand for sugar falls…

Q: If Goods A & B are complements, and increase in the price of Good B will:

A: Goods are complements means that two goods are used together in some specified proportions like like…

Q: If the quantity demanded of good X decreases, then: *

A: A consumer's desire to buy products and services, as well as their willingness to pay a price for…

Q: If apples and pears are substitutes in consumption, then a disease that affects apple trees will…

A: Substitute goods can either fully or partly satisfy the same needs of the customers. Therefore, they…

Q: the price of good X is $10 and the price of good Y is $5, how much of good X can the consumer…

A: We know that the equation of budget line is:  Px Qx + Py Qy = M               Where, Px = Price of…

Q: Pizza is a normal good if the demand a. for pizza rises when income rises. b. for pizza rises when…

A: Demand is an economic principle that refers to a consumer's desire to purchase goods and services,…

Q: movie tickets and film streaming services are substitutes. If the price of film streaming increases.…

A: Market demand for a commodity changes with a change in consumer income, tastes and preferences,…

Q: If two goods were perfect substitutes of each other, it necessarily follows that

A: To find : what happens when two goods are perfect substitutes.

Q: The law of demand states that, ceteris paribus, there is an inverse relationship between the price…

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

Q: As the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units…

A: The cross-price elasticity of demand is a concept that measures the responsiveness in the quantity…

Q: what is the substitution effect and the income effect in demand economics?

A: Substitution effect IN simple words we can say that substitution effect says that the change in the…

Q: If good B is a substitute for good A and the price of good B increases, a. the demand for good A…

A: In a market, if two goods are substitutes of each other, they share direct relation between the…

Q: According to the law of supply, more of a good is desired by consumers as the price falls. less of a…

A: As per the law of supply, there is direct relationship between the price and quantity supplied of a…

Q: If goods A and B are substitutes, a decrease in the price of good B will: O decrease the demand for…

A: For substitutes good, if the price of one good decreases then demand for that good increases and…

Q: Consider two normal goods that are imperfect substitutes. Draw a diagram with Good 1 on the…

A: Income effect refers to the change in the quantity of good due to change int he price of that good,…

Q: What is the difference between an individual demand curve and a market demand curve? If the price of…

A: We are authorized to answer one question at a time, since you have not mentioned which question you…

Q: Beef is a material for beef meatball.  We observe that the equilibrium quantity of beef meatball…

A: The market is a place where the buyers and the sellers meet together and decide about the quantity…

Q: The substitution effect implies that as the price of a substitute good. (a) increases; decreases (b)…

A: In the mentioned question we have been ask about the relationship between two goods. Substitute…

Q: Identify the two goods which are substitutes.     Good X and Good Y     It is not possible to…

A: Here, as the demand for good X decreases, the demand for good Y increases. Therefore, these are…

Q: If bread and butter are complements then what will happen if there is an increase in the price of…

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Q: Does a change in consumers’ tastes lead to a movement along the demand curve or a shift in the…

A: The demand curve reflects the relation between the price of goods and quantity demanded to keep the…

Q: Assume that tea and lemons are complements and coffee and tea are substitutes. Say that the…

A: Price ceiling: - Price ceiling is a government policy of setting the maximum price for any good or…

Q: how does a decrease in price affect the supply and demand curve?

A: Demand: It is an economic principle that indicates the desire of a consumer to buy the commodity at…

Q: Based on the diagram, are beer and pretzels complements or substitutes?

A: Complementary commodities are those commodities which are used together. When the price of one good…

Q: Goods A and goods B are related to each other, either being substitutes or complements. Now the…

A: i) A and B are substitutes  Two goods are substitutes if only one of them is consumed. When price of…

Q: What components will cause a Shift in the Demand curve?

A: A demand curve undergoes a shift due to following factors: a) Income of buyers: If the income of…