If the Demand Curve for Product J Shifts to the Left

question 159

Multiple Choice

If the demand curve for product J shifts to the left as the price of product K increases, then

• A) the number of consumers of product K has increased.
• B) the income of consumers of product K has increased.
• C) products J and K are substitute goods.
• D) products J and K are complementary goods.
• E) products J and K are not related.

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Definitions:

Mutually Exclusive

Refers to events or properties that cannot occur or be true at the same time.

Distribution

The process of making a product or service available for the consumer or business user who needs it, which can involve transportation, packaging, and delivery.

Ratio

A mathematical relationship that compares two numbers or quantities, indicating how many times one value contains or is contained by the other.

Frequencies

The number of times an event occurs within a specified period, often used in the context of waves or signals.