If the Price of a Brita Water Filtration System Increases

question 81

Multiple Choice

If the price of a Brita water filtration system increases and the quantity demanded of bottled water increases,then these two goods are

• A) substitutes.
• B) complements.
• C) normal goods.
• D) inferior goods.
• E) inelastic goods.

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Definitions:

Simplify

To simplify a mathematical expression or problem to its most basic version.

Competitive Output Markets

Markets where multiple firms sell similar or identical products, and prices are determined through competition among sellers.

Exponent

In mathematics, a number indicating how many times a base is to be multiplied by itself.

Binomial

A polynomial expression that contains exactly two terms, typically written in the form a+b.