Asked by
yalize rangel
on Nov 11, 2024Verified
If the price of potato chips increases,other things constant,demand for potato chip dip will:
A) decrease because potato chip is an inferior good.
B) increase because the goods are substitutes.
C) decrease because the goods are substitutes.
D) decrease because the goods are complements.
E) increase because the goods are complements.
Chip Dip
A variety of sauces or seasonings into which chips are dipped to enhance their flavor.
Substitute Goods
Products or services that can serve as replacements for each other; when the price of one increases, the demand for the alternative typically increases.
- Determine the effects of price variations on complementary and substitute products.
Verified Answer
DM
Learning Objectives
- Determine the effects of price variations on complementary and substitute products.
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