What is the effect on product x if the price of product y decrease
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What is the effect on product x if the price of product y decrease ?
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?
All else constant, an increase in productivity has the effect of causing:
both the marginal and average product of labor to increase.
the marginal product of labor to increase and the average product of labor to decrease.
the marginal product of labor to increase and no effect on the average product of labor.
the average product of labor to increase and no effect on the marginal product of labor