A decline in the price of good A causes the demand curve for good B to shift to the right.  We can conclude goods A and B are:    complements            normal goods            inferior goods            substitutes

The price of good A went down by 5% and the quantity demanded of good B went up by 5%. This is evidence that A and B are: unrelated goods inferior goods complements substitutes

In general, if a reduction in the price of one good increases the demand for another, the two goods are called Select the correct answer below: substitutes complements normal goods interchangeable

A B D, The demand for a blueberries, a normal good, is shown in the graph above. A shift from B to A might be caused by: Multiple Choice a decrease in the price of blueberries. an increase in the price of blueberries. a decrease in the price of a substitute. an increase in the price of a substitute. Peter recently has accepted a 10 percent cut in pay as part of cutbacks at his workplace. Now he makes his coffee at home instead of stopping at the local coffee shop every day. Based on this behavior, what can we assume about these goods for Peter? Multiple Choice Home-brewed coffee is a normal good and coffee shop coffee is an inferior good. Home-brewed coffee and coffee shop coffee are normal goods. Home-brewed coffee will become a normal good over time Home-brewed coffee is an inferior good and coffee shop coffee is a normal good.

Sugar is a normal good. You observe that both the equilibrium price and quantity of sugar have risen over time. Which of the following would be most consistent with this observation? Consumers have experienced an increase in income and sugar-production technology has improved. The price of artificial sweetener has risen and the price of coffee has fallen. Consumer tastes have changed so as to prefer sugar less than before. The demand curve for sugar must be positively sloped.

Consider two markets: the market for waffles and the market for pancakes. The initial equilibrium for both markets is the same, the equilibrium price is $6.50, and the equilibrium quantity is 35.0. When the price is $9.75, the quantity supplied of waffles is 57.0 and the quantity supplied of pancakes is 101.0. For simplicity of analysis, the demand for both goods is the same. Using the midpoint formula, calculate the elasticity of supply for pancakes. Please round to two decimal places. Supply in the market for waffles is

Don't use chat gpt otherwise I downvote the answer    The graph below depicts the market for tea. Suppose the price of coffee increases (the two goods are substitutes in consumption). Which of the following statements shows the change in the market for tea? a) The demand curve will shift from D₁ to D₂. b) The demand curve will shift from D₁ to D3. c)There will be a change in the quantity demanded from Point a to Point b. d) There will be a change in the demand from point b to point a

Answer in all option to provide

Which of the following products would likely be the most inelastic? Restaurant Meals Clothing Plastics Furniture

Note: The answer should be typed.