Goods X and Y Are Complementary Goods

question 297

Multiple Choice

Goods X and Y are complementary goods. A decrease in price of good X has occurred. In the market for good Y, this will lead to

• A)an increase in price and a decrease in quantity.
• B)an increase in price and an increase in quantity.
• C)a decrease in price and a decrease in quantity.
• D)a decrease in price and an increase in quantity.

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Definitions:

Workforce Reduction

A decrease in the number of employees through means like layoffs, retirements, or resignations, often as a cost-saving or restructuring strategy.

Attrition

The reduction in workforce through employees leaving naturally (e.g., retirement, resignation) without being replaced.

Delphi Technique

A structured method of gathering expert opinions through questionnaires with multiple rounds allowing for feedback and refinement of responses.

Dynamic Technological Changes

Refers to the ongoing and rapid evolution of technology, impacting how businesses operate and compete.