Question

Read the following case study carefully and answer the questions on the basis of the same:Buyers preference between diesel and petrol cars are significantly influenced by the relative prices of these fuels. In India, people have a higher preference for diesel cars, despite their higher price compared with petrol cars. Because diesel has been much cheaper than petrol. However, in recent past, the gap between diesel and petrol price has tended to shrink. Accordingly, the buyer's preference are likely to change. The low price difference between petrol and diesel is expected to induce the buyers to shift from diesel cars to petrol cars.i. When the price of petrol goes up, the demand for a car will (rise/fall) ii. 'dotsquad' Petrol and diesal are goods(substitute/complementary) iii. If two goods are complementary, then rise in the price of one results in:a. Rise in demand for the other.b. Fall in demand for the other c. Rise in demand for both d. Constant demand of the otheriv. How are the goods related when, as a result of rise in the price of one, the demand for other increases? a. Substitute goods b. Complementary goods c. Normal goods d. Inferior goods​

Answer 1

Answer:

thanks for the points thanks for the points

Answer 2

Answer:

a. fall

b. complementary

c. fall in demand for the other

d. substitute goods

e. price of the commodity

Explanation:

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