This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assuming gasoline and oil to be complementary goods, the effect on the oil market of an increase in ... (Read 32 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jun 30, 2018
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
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


OSWALD

  • Member
  • Posts: 580
Reply 2 on: Jun 30, 2018
:D TYSM

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Effect of changing a set point for hypothalamic values Effect of changing a set point for hypothalamic values
Sample Diet for a College-Aged Female Weighing 132 Pounds, Assuming Light to Moderate Daily ... Sample Diet for a College-Aged Female Weighing 132 Pounds, Assuming Light to Moderate Daily ...
Risk of Stroke and Heart Disease Increase with Increasing Blood Pressure Risk of Stroke and Heart Disease Increase with Increasing Blood Pressure
Effect of a catalyst on activation energy Effect of a catalyst on activation energy
Effect of an Increase in Technological Progress Effect of an Increase in Technological Progress
Greenhouse Effect Greenhouse Effect
Video: Double Stranded DNA Molecule Animation

For a complete list of videos, visit our video library