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If two goods are substitutes for each other, an increase in the price of one will necessarily:

  A. decrease the demand for the other
  B. increase the demand for the other
  C. decrease the quantity demanded of the other
  D. increase the quantity demanded of the other

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019
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Related questions

Two goods are substitutes if a decrease in the price of one good: 
 
(i) decreases the demand for the other good. 
(ii) decreases the quantity demanded of the other good. 
(iii) increases the demand for the other good. 
(iv) increases the quantity demanded of the other good. 
 

The law of demand states that, other things equal, an increase in

a. quantity demanded causes price to increase

b. quantity demanded causes price to decrease

c. price causes quantity demanded to decrease

d. price causes quantity demanded to increase

The law of demand states that, as other things equal, an increase in:

a. price causes quantity demanded to decrease.

b. price causes quantity demanded to increase.

c. quantity demanded causes the price to increase.

d. quantity demanded causes the price to decrease.

 

 

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