--%>

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 : Explain Subsidiary function Elucidate

    Elucidate the Secondary or Subsidiary function? Answer: 1) Standard of deferred payments: Money is executing as deferred Payment

  • Q : Relative concept about poverty A

    A predictable reluctance through modern welfare recipients to trade all they own for the material possessions of a rich person by a much earlier period would be evidence which poverty is: (w) easily solved by income redistribution pro

  • 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 : All possible prices exceeding in

    Participants in this market would experience a surplus in this market for teleporter buttons: (1) at all possible price per button exceeding P2. (2) equal to distance cd when the price per button equals P1. (3) when this market was primarily in e

  • Q : Demand when price of good or resource

    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.

  • Q : Long-run supply curve of a purely

    Long-run supply curve of a purely competitive industry has a slope which is: (w) negative to offset the positive slope of each firm’s short-run supply. (x) positive to reflect the positive slope of each firm’s short-run supply. (y) depende

  • Q : Define regressive in taxes as

    Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive.

    Q : Define Economics Briefly describe the

    Briefly describe the term economics?

  • Q : Theory of production and cost

    The theory of production and cost supposes that the firms seek to maximize the: (i) Society's economic welfare. (ii) Their own gains. (iii) Sales revenues. (iv) Gross National Product. (v) National income. Find out

  • Q : Relatively market power The firm from

    The firm from the given list with relatively the most market power would probably be: (w) General Motors. (x) the world's biggest wheat farm. (y) a gas station in Wayout, Wyoming that has no competitors into 70 miles. (z) the BestBuy in Durham, North