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Product X and Product Y are complementary goods, while Product Z is a substitute for Product X. Suppose the price of Product X increases, what could we expect to be the effect of this price increase?

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Kristelle Balando
Kristelle BalandoLv10
22 Aug 2020

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Related questions

Suppose an excise tax is imposed on product X. We expect this tax to:

a. increase the demand for complementary good Y and decrease the demand for substitute product Z.

b. decrease the demand for complementary good Y and increase the demand for substitute product Z.

c. increase the demands for both complementary good Y and substitute product Z.

d. decrease the demands for both complementary good Y and substitute product Z.

Choose the correct option for the below :

Assume the demand curve for product X shifts to the right. This might be caused by:

a. a change in consumer tastes that is unfavorable to X.

b. an increase in the price of Y and X Y are complementary goods. 

c. a decline in income if X is an inferior good.

d. a decline in the price of Z if X and Z substitute goods.

suppose that x and y are substitute goods. If the price of good x increases, we can expect:

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