Asked by
Jackson Peterson
on Nov 05, 2024
Verified
Related to the Economics in Practice on p. 67: Consumption of quinoa has been on the rise. Many people put quinoa in their yogurt, which would make yogurt and quinoa ________, and therefore a decrease in the price of yogurt should ________ the demand for quinoa, ceteris paribus.
A) substitutes; increase
B) substitutes; decrease
C) complements; increase
D) complements; decrease
Complements
Products or services that complement each other, such that a rise in the demand for one results in a rise in the demand for its counterpart.
Price of Yogurt
The amount of money required to purchase a unit or quantity of yogurt in the market.
- Discern and characterize alternatives and complements, as well as their effects on consumer demand.
Verified Answer
GC
Learning Objectives
- Discern and characterize alternatives and complements, as well as their effects on consumer demand.