An Increase in the Price of a Close Substitute for Good

question 79

Multiple Choice

An increase in the price of a close substitute for good A will:

• A)​increase demand, increase price and increase the quantity exchanged.
• B)​increase demand, increase price and decrease the quantity exchanged.
• C)​increase supply, increase price and increase the quantity exchanged.
• D)​decrease demand, decrease price and decrease the quantity exchanged.

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Definitions:

Compliance

In healthcare, the extent to which patients correctly follow medical advice and adhere to prescribed treatments or interventions.

Cultural Traditions

The beliefs, practices, arts, crafts, and social activities passed down within a culture from generation to generation.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness of global economies, cultures, and populations.

Sexual Activity

Behaviors that involve the genital organs and can include intercourse, as well as other forms of physical intimacy and expression.