If an Increase in the Price of Good X Causes

question 4

Multiple Choice

If an increase in the price of Good X causes a decrease in the demand for Good Y, what can we conclude?

• A) The price of Good Y will increase.
• B) Goods X and Y are normal goods.
• C) Goods X and Y are complements.
• D) Goods X and Y are substitutes.

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Definitions:

Models

Generalized descriptions used to analyze or explain something.

Goal-Setting

Goal-setting is the process of identifying specific, measurable, achievable, relevant, and time-bound objectives that guide individuals or groups toward achieving desired outcomes.

Health Belief Model

A psychological model that explains health behaviors by focusing on individual beliefs about health conditions, perceived benefits of action, and barriers to action.

Cognitive Factors

Elements related to mental processes such as thinking, reasoning, problem-solving, and memory that influence behaviors and perceptions.