Suppose That the Demand Curves for Goods A, B, and C

question 93

Multiple Choice

Suppose that the demand curves for goods A, B, and C have the following functional forms:, where Q denotes quantity demanded and P denotes price: Q_A = 120 - 3.5P_A - 6P_B Q_B = 100 - 2P_B + 3P_C Q_C = 1500 - 0.5P_C.
Based on these demand curves, which of the following pairs of goods are known to be substitutes?

• A)A and B
• B)A and C, and B and C
• C)B and C
• D)A and C
• E)None of the pairs are substitutes.

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