Asked by Xhorxhina Gjoni on Jul 13, 2024
Verified
Suppose the demand for lawnmowers goes down when the price of gasoline goes up. We can say that these two goods are
A) complements.
B) substitutes.
C) unrelated goods.
D) perfect substitutes.
Lawnmowers
Machines utilizing one or more revolving blades to cut a grass surface to an even height.
Gasoline
A liquid fuel derived from petroleum, primarily used as a fuel in internal combustion engines.
Complements
Goods or services that are used together, where the use of one increases the value or demand of the other.
- Understand the relationship between goods' prices and the demand for complementary and substitute products.
Verified Answer
BD
Britney DaltonJul 20, 2024
Final Answer :
A
Explanation :
When the demand for one good goes down as the price of another good goes up, it indicates that the two goods are complements, meaning they are used together.
Learning Objectives
- Understand the relationship between goods' prices and the demand for complementary and substitute products.
Related questions
Demand for Barbara Streisand CDs Is Equal to Q s
When the Price for Blu-Ray Players Dropped, the Demand for ...
If Dell and Toshiba Computers Are Substitutes and the Price ...
If Mortgages and Houses Are Complements in Consumption and Interest ...
What Is the Most Likely Effect of the Development of ...