Demand when price of good or resource drops

When the price of a good or resource drops, the demands for: (i) That good or resource raise. (ii) Complementary goods or resources reduce. (iii) Substitute goods or resources reduce. (iv) Luxury goods and inferior resources drop.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Monopoly and competition theory The

The theorist who set the stage for much of the “new” theory of international trade through blending theories of monopoly and competition to suit the case of several sellers offering differentiated products was: (1) Leon Walras. (2) Vilfred

Q : Calculation of market demand To compute

To compute the market demand for air-filled mattresses, add up the: (i) Amounts demanded at each and every price. (ii) Amounts supplied at each and every price. (iii) Demand prices at each and every quantity. (iv) Supply prices at each and every quant

Q : Problem regarding Privatization I have

I have a problem in economics on Problem regarding Privatization. Please help me in the following question. The procedure of transforming government-run production facilities into ‘for-profit’ businesses is: (i) Privatization. (ii) Cartelization. (iii) Cap

Q : Graphical relationship depicted by

Demand curves graphically depict the relationships which are: (i) Positive among the demand for a good and its relative price. (ii) Negative between the quantity demanded and the opportunity cost of a good. (iii) Positive between income and expenditures. (iv) A horizo

Q : Purely competitive buyers and sellers

Purely competitive buyers and sellers are: (w) price-takers. (x) price-makers. (y) powerless to make decisions. (z) quantity-takers. Hello guys I want your advice. Please recommend some views for above Econ

Q : Competitive Markets-Labor unions The

The Purely competitive labor markets are not characterized through: (1) Most of the individual sellers and buyers of labor services. (2) Wages equivalent to the marginal resource costs. (3) Labor unions. (4) Price taking sellers and buyers of the labo

Q : Perfect mobility and perfect information

The model of perfect competition assumes perfect mobility and perfect information. Transaction costs are not present; therefore all buyers and sellers base decisions on the best information obtainable to anyone else, as well as transportation (mobilit

Q : Long run economic growth When people

When people become optimistic about living longer and accordingly save more for their retirement years, in that case the decline into interest rates will tend to: (w) raise capital costs for business firms. (x) decrease investment expenditures. (y) di

Q : Income distribution line in Lorenz curve

When line 0C0' shows the 1975 U.S. income distribution, in that case the 2005 income distribution would most likely be most probable: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

Q : Problem on Multiple regression analysis

Find two journal articles that have undertaken multiple regression analysis and compare the results. Specify the reference for the two papers.Requirements:

Discover Q & A

Leading Solution Library

Avail More Than 1412685 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1952047
Asked

3,689

Active Tutors

1412685

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment