Two Goods Are Complements When a Decrease in the Price

question 102

Multiple Choice

Two goods are complements when a decrease in the price of one good

• A)decreases the quantity demanded of the other good.
• B)decreases the demand for the other good.
• C)increases the quantity demanded of the other good.
• D)increases the demand for the other good.

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Definitions:

Relational Sources

Information about a product or service that comes from personal relationships, such as friends or family.

Personal Sources

Individuals or personal contacts from whom one can obtain information, recommendations, or advice, especially relevant in purchase decisions or when seeking trustworthy data.

Consumer Value Perceptions

How consumers view the worth of a product or service in relation to its price, quality, and utility.

Alternative Evaluation

The stage in the consumer decision-making process where different product and service options are assessed against a set of criteria.