This topic contains a solution. Click here to go to the answer

Author Question: Assuming gasoline and oil to be complementary goods, the effect on the oil market of an increase in ... (Read 75 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
Assuming gasoline and oil to be complementary goods, the effect on the oil market of an increase in the price of gasoline (other things being equal) would best be described as a(n):
 a. increase in the demand for oil. b. decrease in the demand for oil.
  c. increase in the quantity of oil demanded. d. increase in the quantity of oil demanded.

Question 2

Assume that eggnog and cookies are complements. If the price of eggnog goes up, what happens to the demand for cookies?
 a. Demand for cookies increases.
  b. Demand for cookies decreases.
  c. Demand for cookies remains unchanged.
  d. The shift in demand will depend on the original price of cookies.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janeli

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

b

Answer to Question 2

b




OSWALD

  • Member
  • Posts: 580
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

For a complete list of videos, visit our video library