Suppose That a Consumer's Preferences Are Well Behaved in That

question 173

Multiple Choice

Suppose that a consumer's preferences are well behaved in that properties 4-1 to 4-4 are satisfied and the initial equilibrium consumption bundle consists of 100 units of X and 50 units of Y.If P_X decreases such that the new equilibrium consumption bundle is 150 units of X and 75 units of Y,then goods X and Y are:

• A) complements.
• B) substitutes.
• C) inferior goods.
• D) unrelated.

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