Asked by Alexa Kyles on Sep 24, 2024
An increase in the price of a complement shifts the demand curve to the
A) right
B) left
C) it does not change the demand curve
D) none of the above
Complement
A good or service that is used together with another, increasing demand for both as the use of one enhances the value or utility of the other.
Demand Curve
A graph plotting the quantity of a good that buyers wish to purchase at different price levels, typically sloping downwards from left to right.
- Familiarize yourself with the notions of complement and substitute items and their effect on market demand.
Learning Objectives
- Familiarize yourself with the notions of complement and substitute items and their effect on market demand.