1 a. Do you agree with the following statements? Explain your answers. i. The price of butter rises, causing the demand for another good to fall. This implies that the goods are substitutes. [2 marks] ii. During the pandemic, incomes fell for many Bahamians this change would likely lead to a decrease in the prices of both normal and inferior goods. [2 marks] iii. If the demand and supply of lobster increases at the same time price will rise. [2 marks] iv. The price of milk falls. This causes an increase in the price of good cheese. Therefore, milk and cheese are complements