Ask Question
BusinessBusiness
24 September, 11:18

An increase in the price of good B resulting from a decrease in the supply of B caused an increase in the demand for good C. This indicates that goods B and C are

+2
Answers (1)
  1. 24 September, 11:59
    0
    The correct answer is: substitutes.

    Explanation:

    A decrease in the supply of good B will cause the supply curve to move to the left. This leftward shift in the supply curve will cause the price of good B to increase.

    The consumers will prefer a cheaper substitute, so when the price of good B increases, the demand for good C will increase.

    This indicates that good B and good C are substitute goods.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “An increase in the price of good B resulting from a decrease in the supply of B caused an increase in the demand for good C. This indicates ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
In 1984, 83% of all new cars sold in the U. S. had air conditioning and 39% had power windows. Use Venn diagrams to determine: b) the minimum possible percentage of these cars that had both air conditioning and power windows;
Answers (1)
What happens if i don't register to vote?
Answers (1)
On January 1, 2020, Sheffield Company purchased at face value, a $1230, 10% bond that pays interest on January 1. Sheffield Company has a calendar year end. The adjusting entry on December 31, 2020, is:
Answers (1)
The continuous falling price level is called inflation. True or false?
Answers (1)
The senior management at Red Marble Media Inc. wants to ensure that its career development and advancement programs are effective. This requires identifying and eradicating career-related myths among lower-level employees.
Answers (1)
New Questions in Business
What luxury good is produced in mongolia?
Answers (1)
Which agency has the primary responsibility for diplomacy?
Answers (1)
What determines whether the buyer is satisfied or dissatisfied with a purchase? a. the relationship between the consumer's expectations and the product's perceived performance b.
Answers (1)
Kramer Manufacturing produces blenders. Its total fixed costs are $30,000. Its variable costs are $55.00 per blender. As production of blenders increases (within the relevant range), fixed costs will
Answers (1)
Richard, age 50, is employed as an actuary. For calendar year 2019, he had AGI of $130,000 and paid the following medical expenses: Medical insurance premiums $5,300 Doctor and dentist bills for Derrick and Jane (Richard's parents) 7,900 Doctor and
Answers (1)
Home » Business » An increase in the price of good B resulting from a decrease in the supply of B caused an increase in the demand for good C. This indicates that goods B and C are
Sign Up Forgot Password?