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Two goods are considered substitutes only if a(n)

Two goods are considered substitutes only if a(n)
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Solution Guide / Answer Key:

ECONOMICS

Multiple Choice         

           Two goods are considered substitutes only if a(n)

a.

decrease in the demand for one leads to a decrease in the supply of the other

b.

increase in the demand for one leads to a decrease in the supply of the other

c.

increase in the price of one leads to an increase in the demand for the other

d.

decrease in the price of one leads to an increase in the demand for the other

e.

decrease in the supply of one leads producers to switch to production of the other

 

 FILE: MS WORD

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