--%>

What is Complements

Complements: The two goods for which a rise in the price of one good leads to a reduction in the demand for other.

   Related Questions in Microeconomics

  • Q : What is the sum of market demand for a

    I have a problem in economics on what is the sum of market demand for a good. Please help me in the following question. The other things constant, market demand for the good is a sum of: (i) Firm’s utility-maximizing decisions. (ii) Amounts dema

  • Q : Reinforces the substitution effect For

    For normal goods which experience price changes, then the income effect: (i) Recognizes how higher money income influences demands for goods. (ii) Invalidates the diminishing marginal utility law. (iii) Offsets the substitution effect. (iv) Reinforces the substitution

  • Q : Real interest rate in saving and

    When the real interest rate : (w) is low, there are greater incentives to borrow and fewer incentives to lend. (x) is low, there are greater incentives to lend and fewer incentives to borrow. (y) equals the nominal interest rate + the expected rate of

  • Q : Bond Prices and Interest Rates When you

    When you buy a bond at an interest rate of 15 percent and sell it while the interest rate is 10 percent, then you will: (w) receive more than you paid for the bond. (x) receive less than you paid for the bond. (y) receive similar amount that you paid

  • Q : Formula for economic profit Can someone

    Can someone please help me in finding out the precise answer from the following question. The firm’s total revenue minus its net economic costs equivalents its: (1) Economic profit. (2) Taxable income. (3) Marginal income. (4) Accounting profit. (5) Psychic inco

  • Q : Needs by marginal revenue equals to

    A monopolist produces where marginal revenue [MR] equals marginal costs [MC] when it needs to maximize: (i) total revenue. (ii) consumer surplus. (iii) profits. (iv) total revenue, producer surplus and profits. (v) job security.

  • Q : Market shifting while supply fallen and

    Specified the shifts demonstrated in the market for peanuts, there is the: (1) price will fall.(2)  quantity of output will rise slightly. (3) supply has fallen while demand has grown. (4) main adjustment happens in the quantity exchanged. (5) va

  • Q : Wages for workers and economic rent The

    The monthly check which you pay to your landlord shows: (w) interest for use of the landlord’s capital, and wages for maintenance workers, economic rent depends on the location and amount of land as well as perhaps, several economic profit (when there is any mon

  • Q : Example of price elasticity of demand

    At P = $100, there 50 tons of Garden-Rich fertilizer are demanded within Patagonia; at P = $80, there quantity demanded is 70 tons. Therefore price elasticity of demand for fertilizer: (w) 5/8. (x) 3/2. (y) 4/5. (z) 2/3.

  • Q : Average variable cost curve of firm Can

    Can someone specify correct answer of the given query of demonstrated figure in below that curve J is that cranberry of: (w) industry’s supply curve. (x) firm’s demand curve. (y) firm’s average variable cost curve. (z) firm’s short-run supply c