For Two Goods X and Y to Be Classified as Substitutes

question 55

Multiple Choice

For two goods X and Y to be classified as substitutes, it must be the case that:

• A)X and Y are identical.
• B)consumers tend to purchase both items.
• C)when the price of X rises, the demand for Y decreases.
• D)when the price of X rises, the demand for Y increases.

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