Suppose that after your income increases, you consume less fast food. This means:     Fast food is considered an inferior good.      Coke and Pepsi are substitutes.      Coke and fried chicken are complements.      None of the above.

Will an increase in the price of a complementary good outwardly shift the demand curve?

When the price of a certain product was considered to be "low", consumers spent $5 million monthly on it.  After the price doubled, the total consumer expenditures increased to $7 million. Recently you read that this means that the demand curve for this product is upward sloping. Do you agree? Explain.

A 5 percent decrease in the price of avocados leads to a 20 percent increase in the quantity of salsa demanded. It appears that:   Question 26 options:   Salsa and avocados have a secret relationship that no one (except for the bananas) knows about.   salsa is a complement good to avocados.   salsa is a substitute good to avocados.   there is no relationship between demand for salsa and demand for avocados.

Two goods are substitutes if a decrease in the price of one good. This will lead to: Select one: a. reduces the quantity demanded of the other good b. increases the demand for the other good. c. increases the quantity demanded of the other good d. reduces the demand for the other good

If Beluga caviar has an income elasticity of demand which is > 0 and Ramen noodles have an income elasticity of < 0, it means that Multiple Choice The two goods are complements Beluga caviar is a normal good and Ramen noodles are an inferior good Beluga caviar has fewer substitutes than Ramen noodles Beluga caviar is an inferior good and Ramen noodles are a normal good

Please correct answer and don't use hand rating

If the cross-price elasticity of demand for good X with respect to good Y equals 0, how is that value interpreted? These goods are complements, and the quantity demanded of good X increases if the price of good Y decreases. These goods are unrelated, and a change in the price of good Y has no effect on the quantity of good X demanded. These goods are normal goods, and a change in buyers income increases the quantity demanded of good X. These goods are substitutes, and the quantity demanded of good X decreases if the price of good Y decreases.

What is the difference between substitutes and complements? Indicate two goods that are substitutes for each other. Indicate two goods that are complements.

Which of the following increases the demand for a good or service? A) a rise in the price of a complement B) a rise in the price of the good or service C) a rise in the price of a substitute good or service D) a fall in the price of the good or service