Suppose That the Demand Curves for Goods A,B,and C Have

question 44

Multiple Choice

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: Q_A = 120 - 3.5P_A - 6P_B
Q_B = 100 - 2P_B + 3P_C
Q_C = 1500 - 0.5P_C.
Based on these demand curves,which of the following pairs of goods are known to be substitutes?

• A)A and C
• B)A and B
• C)B and C
• D)A and C,and B and C
• E)none of the pairs are substitutes

---

Definitions:

Critical Path

The longest sequence of activities in a project plan which must be completed on time for the project to finish by its due date.

Immediate Predecessor

Refers to an immediately preceding task or step that must be concluded before the next one can start, in a sequence of operations or processes.

Activity Durations

The estimated or actual amount of time needed to complete an activity or task in project management.