Good X and Good Y Are Substitutes

question 3

Multiple Choice

Good X and good Y are substitutes.If the price of good Y increases,then the

• A)demand for good X will decrease.
• B)quantity demanded of good X will decrease.
• C)demand for good X will increase.
• D)quantity demanded of good X will increase.

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Definitions:

Obligor

A person or entity legally obligated to provide a payment or service to another under the terms of a contract.

Assignment

The transfer of rights, duties, or interests under a contract or agreement from one party to another.

Assignor

An individual or entity that transfers rights or interests in a property, contract, or other asset to another.

Assignee

A person or entity to whom rights or interests have been transferred through a legal agreement or contract.