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9. True or False: a. If the price of a good increases, holding other variables equal, quantity demanded decreases. b. If income increases, holding other
9. True or False: a. If the price of a good increases, holding other variables equal, quantity demanded decreases. b. If income increases, holding other variables equal, the demand for inferior goods will increase. c. If the cost of producing apple pies decreases, holding other variables equal (especially the selling price of apple pies), the supply curve for apple pies shifts left. d. If the price of one good decreases, holding other variables equal, the demand for its complement good will decrease.
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