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Author Question: Assuming gasoline and oil to be complementary goods, the effect on the oil market of an increase in ... (Read 44 times)

OSWALD

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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.


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janeli

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


OSWALD

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

nyrave

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Reply 3 on: Yesterday
Excellent

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