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Suppose that the demand curves for goods A,B,and C have the following functional forms:,where Q denotes quantity demanded and P denotes price: QA = 120 - 3.5 PA - 6PB
QB = 100 - 2PB + 3PC
QC = 1500 - 0.5PC.
Based on these demand curves,which of the following pairs of goods are known to be complements?
Raw Materials
The basic materials and components required in the manufacturing process to produce finished goods.
Production
The process of creating goods and services using labor, machinery, and raw materials.
Finished Goods
Items that have finished being manufactured and are prepared for purchase by consumers.
Inventory
The raw materials, work-in-progress, and finished goods that a company holds for the purpose of sale in the future.
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