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 42 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
:D TYSM


adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

For a complete list of videos, visit our video library