The Demand for a Good Increases When the Price of a Substitute

question 238

Multiple Choice

The demand for a good increases when the price of a substitute __________and also increases when the price of a complement ___________.

• A) falls; rises
• B) falls; falls
• C) rises; rises
• D) rises; falls

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Definitions:

Reliable

The quality of being consistently good in performance, accuracy, or honesty, engendering trust.

Sampling Bias

A statistical error that occurs when a sample is not representative of the population from which it is drawn, leading to skewed results.

Online Survey

A method of collecting data or feedback from a wide audience via the internet, using questionnaires or polls.

Open-ended Questions

Inquiries that cannot be answered with a simple "yes" or "no," encouraging a more detailed and informative response.