The price of good X falls and the demand for good Y decreases. We can conclude that: X and Y are complements. X and Y are substitutes. X and Y are substitutes in production. X is a normal good

Question

02-03-2022
Business

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The price of good X falls and the demand for good Y decreases. We can conclude that: X and Y are complements. X and Y are substitutes. X and Y are substitutes in production. X is a normal good

Sagot :

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hepsujoe hepsujoe · Answer 1 · 2022-03-09T12:49:50-05:00

Answer:

X and Y are complements

Explanation:

When two goods are complements, they experience joint demand. When the demand for one good increases, the demand for the other increases as well.

We know that as the price of a good falls, the demand for it increases. Therefore, we know that the demand for X increases because its price fell.

The problem also tells us that the demand for Y increased also. Since the demand for both X and Y increased when the price of good X fell, we know that these two goods are complements.

Sagot :

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