(Figure: Quantity of Good Y and X IV) the Price

question 10

Multiple Choice

(Figure: Quantity of Good Y and X IV) The price of good Y decreased from $20 to $10. Goods X and Y are considered ____.

• A) complements
• B) substitutes
• C) unrelated goods
• D) inferior goods

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Definitions:

Loyalty Card

A card issued by a retailer to a customer, used to record credit points awarded for money spent in the store, incentivizing repeat business.

Customer Purchase Information

Data related to the buying habits, preferences, and demographics of consumers.

Syndicated Data

Market research data collected and compiled by an organization, which is then sold to multiple companies to help them understand market trends or consumer behavior.

Commercial Research Firms

Companies specialized in conducting research in the business sector, often providing insights and data to other businesses for strategic purposes.