Two Goods Are Complements If an Increase in the Price

question 39

True/False

Two goods are complements if an increase in the price of one causes an increase in the demand for the other good.

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Definitions:

Time And Material Pricing

A pricing method where a service provider charges based on the labor time involved and the cost of materials used.

Labour Used

Refers to the total amount of work done or number of hours worked by employees in a specific period.

Materials Used

The raw inputs consumed in the production of goods.

Time And Material Pricing

A pricing method that charges the customer based on the actual time spent and materials used on a project.