Question
TRUE or FALSE statement Assume that 10% increase in the price of good A leads to 15% reduction in the sale of good B. This
TRUE or FALSE statement
"Assume that 10% increase in the price of good A leads to 15% reduction in the sale of good B. This implies good A and good B must be complementary goods"
To achieve full 5 marks. Your answer must contain -i)Identify whether the statement is TRUE or FALSE (1 markto be awarded) ; ii) Give short explanation (2 marksto be awarded) ; iii) Complement the answer with a relevant diagram or a formula (2 marksto be awarded).Marks are awarded based on the quality of your answer. Note:you can simply draw a diagram or write an equation manually on a piece of paper. Take a picture and upload it in the drag and drop space.
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