If Goods X and Y Are Substitutes in Production, If

question 107

Multiple Choice

If Goods X and Y are substitutes in production, if the price of Good X decreases, this will cause a _________ the supply curve for Good X and a _________the supply curve for Good Y.

• A)shift in; shift in
• B)shift in; movement along
• C)movement along; movement along
• D)movement along; shift in

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Definitions:

Patent Protection

Legal rights granted to inventors to exclusively make, use, or sell their inventions for a certain period, preventing others from doing so.

Paris Convention

An international treaty established to protect industrial property rights including patents, trademarks, and industrial designs across countries.

CISG

stands for the United Nations Convention on Contracts for the International Sale of Goods, a treaty providing a uniform international sales law.

Specific Exclusions

Provisions in a contract, insurance policy, or law that explicitly remove certain events, actions, or items from coverage or regulation.