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Author Question: For each of the following pairs of products, state which are complements, which are substitutes, and ... (Read 78 times)

ARLKQ

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on: Jun 29, 2018
For each of the following pairs of products, state which are complements, which are substitutes, and which are unrelated.
 
  a. Digital camera and memory stick
  b. 7Up and Mountain Dew
  c. Swimsuits and flip-flops
  d. Tylenol and cat food
  e. Photocopier and paper

Question 2

What does a household's budget line show?
 
  What will be an ideal response?


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olivia_paige29

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a. Complements
b. Substitutes
c. Complements
d. Unrelated
e. Complements

Answer to Question 2

The budget line plots combinations of goods that require all a household's income and describes the limits to its consumption choices.


ARLKQ

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Reply 2 on: Jun 29, 2018
:D TYSM

covalentbond

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Reply 3 on: Yesterday
Excellent

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