Complementary Goods Are Goods

question 61

Multiple Choice

Complementary goods are goods:

• A) that are consumed jointly.
• B) that are consumed one in place of the other.
• C) for which demand increases when the price of its complementary goods increases.
• D) for which demand decreases when the price of its complementary goods decreases.
• E) that are inversely related.

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Definitions:

Cosmetics Company

A business entity that manufactures, distributes, and sells beauty and personal care products.

Marketing Mix

A set of marketing tools—often referred to as the 4Ps (product, price, place, and promotion)—that businesses use to pursue their marketing objectives.

Competitive Price

A pricing strategy where a product or service is offered at a price considered to be more attractive than those of the competitors.

Television Advertisements

Marketing messages broadcasted through television channels to promote products, services, or ideas to a wide audience.