A property right is

a)any arrangement that enables buyers and sellers to get information and to do business with each other.

b)an economic unit that hires factors of production and organizes those factors to produce and sell goods and services.

c)any commodity or token that is generally acceptable as a means of payment.

d)a social arrangement that governs the ownership, use, and disposable of anything that people value.

e)a medium of exchange.

If goodsXandYare substitutes in production, then a rise in the price of goodX

a)increases the supply of goodY.

b)decreases the demand for goodY.decreases the supply of goodY.

c)increases the demand for goodY.

d)might change the supply ofY;

e)it depends on whetherXandYare also substitutes.