Patrick Lives near Two Petrol Stations, Caltex and Shell

question 120

Multiple Choice

Patrick lives near two petrol stations, Caltex and Shell. If Caltex decreases the price of petrol, we predict that the quantity of petrol demanded at Shell will

• A) decrease because Caltex and Shell petrol are substitutes.
• B) decrease because Caltex and Shell petrol are complements.
• C) increase because Caltex and Shell petrol are substitutes.
• D) increase because Caltex and Shell petrol are complements.
• E) not change because Caltex and Shell are different brands of petrol.

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Definitions:

Socialistic

Pertaining to socialism, a political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods.

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Applying Paint

The action or process of applying color or pigment to a surface using tools like brushes, rollers, or sprayers as part of artistic or decorative work.

Beata Beatrix

A painting by Dante Gabriel Rossetti, depicting Beatrice Portinari from Dante Alighieri's poem "La Vita Nuova" at the moment of her death, symbolized by a dove.