Question
1 . If the price of a complement good increases, the demand _____. If the price of a substitute good decreases, the demand _____. a.
1 . If the price of a complement good increases, the demand _____. If the price of a substitute good decreases, the demand _____.
a. increases;increases
b. increases;decreases
c. decreases;increases
d. decreases;decreases
2 . Other things remaining the same, if government regulators outlaw the use of a technology that enables the good to be produced at a significantly lower cost, the supply of a particular commodity _____; and if the price of a commodity that is a substitute in production increases, the supply of a particular commodity _____.
3 .If consumers' income increases and the good is inferior, the equilibrium price _____ and the equilibrium quantity _____.
a. increases;increases
b. increases;decreases
c. decreases;decreases
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