Question: 33. The relationship between the price of the good and the quantity demanded of a substitute good is 3 (1 Point) Direct relationship inverse

33. The relationship between the price of the good and the quantity

33. The relationship between the price of the good and the quantity demanded of a substitute good is 3 (1 Point) Direct relationship inverse relationship No relationship at all none of the above Jiy

Step by Step Solution

★★★★★

3.52 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Correct answer is direct relationship because when price of a good increase then demand o... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

The Poster is on a self-selected criminal justice leader, include at a minimum, their contribution to criminal justice and what lessons can be learned from them. In the alternative, you may choose...

You are an IT project manager You will use your inclass sample project to answer the following questions related to Project Integration Management Why is the project charter necessary? How do...

Case 2 falls through into case 3, and so these two cases are not mutually exclusive.

From the original setup in Problem 2, suppose that the quantity supplied of flat panel TV stands is represented by QS = 8P 20 Pi 200, where P is the price of the stand and Pi is the price of...

Suppose the demand function for a product is given as Q = 500 5 P. Find out: ( i) Quantity demanded at pric15, ( ii) Price to sell 200 units, ( iii) Price for zero demand, and ( iv) Quantity...

1. Book Pricing: Publishers versus Authors. Consider the problem of setting a price for a book. The marginal cost of production is constant at $20 per book. The publisher knows from experience that...

Often, consumer demand for a commodity will depend upon the use of durable goods, such as housing or transportation. In such a case, demand will show a time-varying pattern of response similar to...

The demand curve is given by Q D = 500 - 5P X + 0.51 + 10P Y - 2P Z where Q D -quantity demanded of good X P x = price of good X I = consumer income, in thousands P y = price of good Y P z = price of...

The economy has two sides. One side is the aggregate demand side. 1. State the relationship between the price level and the quantity demanded of Real GDP. 2. Draw an AD curve. Label each axis. 3....

Examine the data to see if there is any relationship between the price and the quantity demanded. Determine the correlation coefficient between price and demand, rounded to the nearest hundredth....

Watch help video Find the length of the third side. If necessary, write in simplest radical form 5 2

Explain clearly what is the following pipeline command doing. cat *.log | tee myfile | grep "error" >> errors

Tempered glass panels are produced using slow expansion and rapid cooling. A glass panel starts square with a side length of s and thickness of t as shown in the figure. During the tempering process,...

20Kg/s of the mass flow rate of water is used in a power cycle. The cycle consists on a isothermal heat exchange in the boiler from saturated liquid to saturated vapor at pressure of 5MPa. The vapor...

Dana and Abdulla are leaders. Dana succeeded in managing change that took the organization to a new horizon; she is charismatic, engaged in honest employees' developmental considerations, and...

Task: Share an example of a lesson or classroom activity demonstrating meaningful planning for technology integration using the SAMR model. This application will also allow me to assess your current...

= = Let M = ( Q , 2 , 5 , s , F ) be an NFA, where Q = { 9 0 , 9 1 , 9 2 } , { = { a , b , c , d } , { 8 ( 9 0 , a ) = q 0 , 5 ( 9 0 , \ epsi ) = q 1 , ( 9 1 , b ) = 9 1 , 5 ( 9 1 , c ) = 9 1 , 5 ( 9...

Chapter 9 Stock Valuation at Ragan Engines Input area: Shares owned by each sibling Ragan EPS Dividend to each sibling Ragan ROE Ragan required return Blue Ribband Motors Corp. Bon Voyage Marine,...

To help identify risks, what are some helpful questions that a project manager could ask when reviewing the project charter and WBS?

Use the following information to answer parts (a) through (f). Describe what the results of each calculation mean to you as a project manager. What do you propose to do? PV = $500,000 EV = $350,000...

Why might a contractor company perform a SWOT analysis prior to bidding on a potential project?

Given the following sample of five observations, develop a scatter diagram, using x as the independent variable and y as the dependent variable, and compute the correlation coefficient. Does the...

An Environmental Protection Agency study of 12 automobiles revealed a correlation of 0.47 between engine size and emissions. At the .01 significance level, can we conclude that there is a positive...

Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion,...