Two Products Are Substitutes If

question 60

Multiple Choice

Two products are substitutes if

• A) An increase in the price of one causes buyers to demand less of the other
• B) An increase in the price of one causes buyers to demand more of the other
• C) A decrease in the price of one causes buyers to demand more of the other
• D) Individuals consume the goods together

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Definitions:

Scheduled Arrival Time

The pre-determined time at which a vehicle, such as an airplane or a bus, is expected to arrive at its designated stop or destination.

Scatterplot

A type of graph in statistics used to visualize the relationship between two quantitative variables, displaying individual data points as dots within a cartesian coordinate system.

Relationship

A connection or association between individuals, whether emotional, social, professional, or familial, shaped by interactions and mutual experiences.

Scatterplot

A graphical representation using dots to show the relationship between two quantitative variables.