Examlex

Solved

If a Decrease in the Price of Good Y Causes

question 157

Multiple Choice

If a decrease in the price of good Y causes the demand for good Z to decrease, this indicates that


Definitions:

Output

The total amount of goods or services produced by a firm or economy over a specific period.

Marginal Product

The additional output that results from using one more unit of a production input, keeping all other inputs constant.

Fertilizer

A chemical or natural substance added to soil to increase its fertility and promote plant growth.

Corn

A cereal plant that yields large kernels on a cob, used as a staple food in many parts of the world and as animal feed.

Related Questions