These Related Goods and Services Are Complementary When

question 15

Multiple Choice

These related goods and services are complementary when:

• A) the price of one increases, the demand for the other goods is constant.
• B) the price of one decreases, the demand for the other goods decreases.
• C) the price of one decreases, the demand for the other increases.
• D) the price of one increases, the demand for the other goods increases.

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Definitions:

Linear Equation

A formula involving two variables that results in a linear plot on a chart.

Discount

A reduction applied to the usual cost of goods or services.

Markup Rate

The percentage added to the cost price of goods to cover overhead and profit.

Markup

The amount added to the cost price of goods to cover overhead and profit.