The Table Given Below Reports the Quantity Demanded of a Good

question 73

Multiple Choice

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Other things remaining the same, when a fall in the price of one good is followed by an increase in the demand for another good, both goods are said to be:

• A)inferior goods.
• B)substitute goods.
• C)Giffen goods.
• D)public goods.
• E)complementary goods.

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Definitions:

Altruistic Behavior

Behavior in which one individual helps another, seemingly at its own risk or expense.

Courtship Rituals

Behaviors intended to attract or maintain the attention of a potential mate. A courtship ritual may be a signal that triggers nest building, ovulation, or mating.

Dominance Hierarchy

A social structuring within a group of animals where individuals are ranked according to their access to resources, with a clear pecking order.

Hunting Group Size

The number of individuals in a group that come together to hunt prey, influencing the strategy and success of the hunt.