Suppose the demand for good Z goes up when the price of good Y goes down. We can say that goods Z and Y are ?

Related Mcqs:

The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ____________?

A. elastic B. perfectly elastic C. unitarily elastic D. inelastic....

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

A. substitutes inferior B. normal, complements C. substitutes complements D. normal, inferior...

When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?

A. complements B. substitutes C. inferior D. nromal...

An increase in the costs of production will ?

A. Shift demand outwards B. Shift demand inwards C. Shift supply outwards so more is supplied at each and every price, all other things unchanged D. Shift supply inwards...

Firms are assumed to ________ costs and to ________ profits?

A. incur, desire B. pay, make C. charge earns D. minimize, maximize...