« previous next »

Author Question: If an increase in the price of Product X causes an increase in the demand for Product Y, we can ... (Read 102 times)

mckennatimberlake

  • Hero Member
  • *****
  • Posts: 559
on: Jun 30, 2018
If an increase in the price of Product X causes an increase in the demand for Product Y, we can conclude that:
 a. Products X and Y are complements.
  b. Products X and Y are substitutes.
 c. Products X and Y are normal goods.
  d. The price of Product Y will decrease.

Question 2

In the long run, a decrease in the price level:
 a. leaves output prices unchanged relative to input prices.
  b. decreases the profit margins of many producers.
 c. decreases RGDP supplied.
 d. Does none of the above


whitcassie

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

China’s 8% annual increase in oil consumption China’s 8% annual increase in oil consumption
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Find the two integers that have a sum of 20 and a maximum product Find the two integers that have a sum of 20 and a maximum product
GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering
Video: Protein Structure - Primary, Secondary, Tertiary and Quaternary

For a complete list of videos, visit our video library