If the Price of "X" Increases and You Buy More

question 128

Multiple Choice

If the price of "X" increases and you buy more "Y," then

• A)"X" and "Y" are complements,and the price of "Y" will increase.
• B)"X" and "Y" are complements,and the price of "Y" will decrease.
• C)"X" and "Y" are substitutes,and the price of "Y" will increase.
• D)"X" and "Y" are substitutes,and the price of "Y" will decrease.

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Definitions:

Intangible Attributes

Refers to the non-physical features or benefits associated with a product or service, such as brand reputation, service quality, and customer experience.

Tangible Attributes

Physical characteristics or features of a product that can be seen, touched, and measured.

Consumer Needs

The essential requirements and desires that individuals seek to fulfill with products and services.

Political Candidate

An individual who seeks to be elected to a governmental position or office.