The Graphs Below Refer to the Market for Good X

question 21

Multiple Choice

The graphs below refer to the market for good X.Firms can produce either good X or good Y,which consumers consider to be a substitute for good X.A decrease in the price of good Y will to lead to the shifts shown by

• A) Graph (a).
• B) Graph (b).
• C) Graph (c).
• D) Graph (d).
• E) Both Graph (a)and Graph (d).

---

Definitions:

Real Property

Land and any structures or improvements attached to the land, such as buildings, making it immovable property.

Tangible Property

Physical assets that can be touched and seen, such as buildings, machinery, and inventory.

Engagement Ring

A ring typically given as a symbol of commitment when proposing marriage.

Conditional

A status that depends on certain requirements being met or conditions being fulfilled.