A and B Are Substitute Goods, but a and C

question 57

Multiple Choice

A and B are substitute goods, but A and C are complementary goods (in consumption) .If the costs of production of A decrease, then the demand for:

• A)both B and C will decrease.
• B)both B and C will increase.
• C)B will increase and the demand for C will decrease.
• D)B will decrease and the demand for C will increase.

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Definitions:

Preschoolers

Young children typically between the ages of 3 and 5 years old who are in early childhood, just before the start of formal education.

Social Interactions

The process by which individuals act and react in relation to others in a social context.

Cliques

refers to small, exclusive groups of individuals, often within a larger community, bound together by common interests or social standings.

Reference Groups

Groups of people with whom one compares oneself.