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:

Corn

A cereal plant that yields large kernels on a cob, used for food for humans and livestock, and as a raw material in industry.

Linear

Pertaining to a straight-line relationship in mathematics or economics, often used to describe a direct proportionality between variables.

Substitutes In Production

Products that can be produced using the same resources or processes as another product, allowing producers to switch between them based on market demand or cost considerations.

Fixed Resources

Assets and inputs in the production process that cannot be easily increased or decreased in the short term, such as land and machinery.