#865559

#865559: If the demand for good 1 … when the price of good 2 increases, then good 1 is a substitute for good 2. If the demand for good 1 decreases in this situation, then it is a complement for good 2.

If the demand for good 1 … when the price of good 2 increases, then good 1 is a substitute for good 2. If the demand for good 1 decreases in this situation, then it is a complement for good 2.
Варианты ответа:
  • Increases
  • Decreases
  • Remains same

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Тематика: Микро- и макроэкономические основы рыночного ценообразования Теория отраслевых рынков Экономическая мысль дорыночной экономики
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The inverse demand function measures the price at which a given quantity will be demanded. The … of the demand curve at a given level of consumption measures the marginal willingness to pay for an additional unit of the good at that consumption level. The consumer’s demand functions give the optimal amounts of each of the goods as a function of the prices and income faced by the consumer. Studying how a choice responds to changes in the economic environment is known as comparative statics. We would normally think that the demand for each good would increase when income increases. Economists, with a singular lack of imagination, call such goods normal goods. The income offer curve is also known as the income expansion path.