If Goods X and Y Are Substitute Goods, Then an Increase

question 213

Multiple Choice

If goods X and Y are substitute goods, then an increase in the price of Y, other things being equal,

• A) results in a decrease in the amounts of both X and Y consumed.
• B) decreases the quantity demanded of Y, but has no effect on the amount of X consumed.
• C) results in a decrease in the quantity of Y consumed, but increases the demand for X.
• D) has no real effect on the quantity demanded of good Y, but increases the demand for X.

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