Suppose That Good X Is a Substitute for Good Y

question 77

Multiple Choice

Suppose that good X is a substitute for good Y. Then an increase in the price of good Y leads to

• A) an increase in the demand of good X.
• B) a decrease in the demand of good X.
• C) a decrease in the supply of good X.
• D) an increase in the supply of good X.

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Definitions:

Intellectual Stimulation

the process of encouraging individuals to think critically, creatively, and to challenge their existing beliefs and assumptions.

Transformational Leadership

A leadership style that inspires positive changes in those who follow, through vision, encouragement, and the challenge of high expectations.

Reevaluate Perspectives

The act of reconsidering or reassessing one’s views or judgments, often in light of new information or understanding.

Transformational Leadership Model

A leadership approach that focuses on inspiring and motivating followers to exceed their own interests for the good of the group or organization by transforming their views and values.