Suppose rice and pasta are substitute goods in consumption. If new technology that lowers production costs has been found for rice and, at the same time, an earthquake has destroyed pasta making factories, what would happen in the pasta market? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Price falls and quantity rises. b Price rises and quantity rises. The change in price is ambiguous and quantity falls. d Price rises and the change in quantity is ambiguous.

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Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.