Question: If A and B are complementary goods, a decrease in the price of good A would: a . have no effect on the quantity demanded
If A and are complementary goods, a decrease in the price of good A would:
a have no effect on the quantity demanded of
b lead to an increase in demand for
c lead to a decrease in demand for
d none of the statements associated with this question are correct.
e None of the above
Beef is a normal good. You observe that both the equilibrium price and quantity of beef have risen over time. Which of the following would be most consistent with this observation?
a Consumers have experienced an increase in income and beefproduction technology has improved.
b The price of chicken has risen and the price of steak sauce has fallen.
c Consumer tastes have changed so as to prefer beef less than before.
d The demand curve for beef must be positively sloped.
e None of the above
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