Referring to the Previous Question,as a Result of the Consumer's

question 1

Multiple Choice

Referring to the previous question,as a result of the consumer's adjustment to the change in the price of Y,assuming Y is a normal good and X and Y are complements,it is reasonable to expect that the amount of Y consumed will ________,and the amount of X consumed will ________:

• A)increase; decrease
• B)decrease; decrease
• C)increase; increase
• D)cannot be determined; cannot be determined

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Definitions:

Straight-Line Depreciation

A method of calculating depreciation by evenly spreading the cost of an asset over its useful life.

Depreciation

The systematic allocation of the depreciable amount of an asset over its useful life, reflecting wear and tear, obsolescence, or aging.

Inventory

The raw materials, work-in-progress products, and finished goods considered to be the portion of a business's assets that are ready or will be ready for sale.

Revenue

The sum of money received from selling goods or providing services that are fundamental to a company's main business activities.