If a 20% increase in the price of sheets causes the
demand for blankets to decrease by 40%, the sheets
and blankets are:
a.
Luxuries
b.
Substitutes
C.
Complements
d.
Necessities
Answers
Answer:
they may be subtitutes to each other
Answer:
The answer is b Substitutes
Explanation:
substitute goods are similar products that a client may additionally use for the same motive. Your customers may also pick out the product they choose if it is available and remember substitutes if the charge, availability or satisfactory of their preferred product modifications. these modifications additionally often have an effect on the demand for an object. enhances are goods which might be consumed together. Substitutes are goods where you could devour one in place of the other.
The costs of complementary or substitute goods also shift the call for curve. Substitutes-in-production are or greater items that may be produced using the equal resources. producing one good prevents dealers from the use of resources to provide another. Produce one or produce the alternative, but no longer each. Farmers are often confronted with the manufacturing of alternative plants, consisting of corn or soybeans.
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