If an Increase in the Price of Good X Causes

question 140

Multiple Choice

If an increase in the price of good X causes the demand for good Y to decrease, this indicates that

• A) X and Y are complements.
• B) X and Y are substitutes.
• C) X and Y are unrelated.
• D) the demand for X is elastic, but the demand for Y is inelastic.

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Definitions:

Proliferation Phase

The second phase of wound healing, in which new tissue forms, closing off the wound.

Scar Tissue

Fibrous tissue that replaces normal skin or tissues after an injury or surgery, often leading to reduced functionality and flexibility.

Approximated

Brought closer together or made to correspond or resemble more closely, often used in reference to making estimates or calculations that are close to the actual values.