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Which of the following type of goods affect the demand for a product due to a change in their price?
1. Complementary goods
2. Normal goods
3. Inferior goods
4. Substitute goods

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Samantha Balando
Samantha BalandoLv7
26 Sep 2020

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Related questions

 A positive income elasticity of demand coefficient indicates that

 

a.   a product is an inferior good

b.   two products are substitute goods

c.   two products are complementary goods

d.   a product is a normal good

In the market for desk lamps, which of the following will increase demand?

a. If desks are complementary goods for desk lamps, the price of desks increases.

b. If desk lamps are inferior goods, income increases. 

c. If desks are complementary goods for desk lamps, the price of desks decreases.

d. If floor lamps are substitute goods for desk lamps, the price of floor lamps increases.

e. If desk lamps are normal goods, income increases.


(a) Giving examples, explain the difference between:
(i) an inferior good and a normal good;
(ii) substitute and complementary goods.
(b) Carefully explain what happens to the demand for a Giffen good as its price rises.

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