Which of the following would be an example of a complimentary good in relation to a Honda Accord Car?   A) gasoline  B) toothpaste  C) a Toyota Prius car D) public transportation

Q: What framework can be used to help study consumer involvement and deeper motivations of using…

A: Consumer behavior is the study of how people, groups, and organizations choose, purchase, use, and…

Q: With a standard demand curve, the higher the price means what? the greater the production cost.…

A: Demand - it refers to the quantity of a good that a consumer is able and willing to purchase during…

Q: In advertising, a business is not only making consumers aware of the existence of the product and…

A: Income elasticity is a parameter that measures how the demand for a service fluctuates to a change…

Q: Suppose that typically you pay $10 for an Uber ride to work. Today, you take the same trip, but find…

A: The interaction of demand and supply in the market determines the equilibrium quantity and price…

Q: Supply shifts so that the equilibrium quantity of the good decreases. This change is consistent with…

A: Equilibrium quantity occurs at the intersection point of demand and supply curve.  The equilibrium…

Q: A given change in demand will yield a larger change in the quantity supplied A. the more elastic is…

A: Answer is given below

Q: If public transportation is an inferior good and private transportation is a normal good, what will…

A: A normal good is also known as a necessity good. These are the goods that have higher demand when…

Q: Which one of the following statements is correct? A. “Demand” and “claim” have the same meaning. B.…

A: Demand demonstrates a person wants to have something and has the ability to pay at current market…

Q: The following relations describe monthly demand and supply for a computer support service catering…

A: The equilibrium price of a commodity is the price at which the quantity demanded of a commodity…

Q: If an increase in income results in a decrease in the quantity demanded of a good, then the good is…

A: Consumer income is a factor which affects the demand for a good since it dictates how much of a good…

Q: Genovia has experienced exceptional growth in recent years. Its GDP per capita (or Income) has…

A: Given:Initial income=io=$30,000New income=i1=$50,000Initial demand for personal…

Q: If you are selling Mercedes-Benz cars in your showroom, what product "substitutes" are available to…

A: Substitutes are those goods that can be used in place of one another. Some goods are perfect…

Q: Which of the following is the correct economic interpretation for the model below?   LogQD = 9.5 –…

A: Log-Linear regression model: Log(Y) = a + bX The above model is the Log-Linear regression model,…

Q: Why does the movie theater charge matinee customers a lower price than the night time customers?

A: The movie theater charge matinee customers a lower price than the nighttime customers because the…

Q: Which of the following is the likeliest price elasticity of demand for a necessity?   Question 11…

A: Price elasticity of demand measures the responsiveness in quantity demanded with respect to the…

Q: When other things remain unchanged, what can be expected if Blue-ray movies become significantly…

A: when the demand is more in the market price will be less so here we can choose the correct option…

Q: Which products are for you not price sensitive, so that you would buy them even if the price…

A: Price sensitive refers to the situation where the changes in price leads to affect the quantity of…

Q: If A New Breakthrough in Manufacturing technology reduces the cost of producing Blu-ray Players By…

A: Technology: It refers to the new innovations which have been used by the economy. The technology…

Q: Suppose that the price of corrugated cardboard boxes rises by 20 percent and the quantity supplied…

A: Elasticity of supply depicts how much producer responds with the change in the price level.

Q: Using a product (good or service) of your choice, provide an example of a situation where the demand…

A: Answer to the question is as follows:

Q: If consumers completely ceases purchasing a product when its price increases by any amount, the…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Q: Regulators in the European Union have charged Microsoft with illegally tying Internet Explorer (IE)…

A: The role of business strategies in economics is such that it helps to understand the importance of…

Q: A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer buys 100…

A: Price elasticity of demand for a good is the measure of responsiveness of demand due to the change…

Q: A good that people are more willing to purchase following a decrease in the price of another good is…

A: Demand is the willingness and ability of a consumer to buy a good at given price and given period of…

Q: We often find that for major sporting events (playoffs, Super Bowl, etc.) the quantity of tickets…

A: Consumer surplus refers to the difference between the price that represents the maximum willingness…

Q: For a particular good, a 10 percent increase in price causes a 15 percent decrease in quantity…

A: The elasticity of demand is the degree of responsiveness from the part of the consumer towards the…

Q: In case of complementary goods, a rise in price of Good X causes a rise in demand for Good Y. A True…

A: Ans in step 2

Q: The federal government wants to improve the fortunes of domestic car manufacturers and is…

A: Answer a. Rebates have been shown to be effective in selling products, increasing visibility, and…

Q: What are the consequences of reduced publicfunding?

A: Public funds are collected through the public by means of taxes, interests, fees, etc. These funds…

Q: is any physical good, service, or idea that satisfies a want or need, plus anything that in the eyes…

A: A sale is an action of giving a good of service in exchange for money.  A test refers to evaluation…

Q: _______________ refers to the willingness and ability of buyers to purchase different quantities of…

A: The market is the combination of buyers and sellers. It is a system in which transactions take place…

Q: An increase in consumer income will cause a decrease in the demand for an inferior good.  A.True…

A: The demand refers to the quantity of goods that a consumer is able and willing to purchase at a…

Q: the demand equation for a product is q=1.5p+600, where q is the number of a products that can be…

A: A demand function expresses the relationship between quantity demanded of a good and its price. The…

Q: Variables that can shift the demand curve  information about Prices of related goods

A: A demand curve is a downward sloping curve which shows an indirect relationship between price of a…

Q: A study on how the demand for a particular combo meal will change in the next 12 months Descriptive…

A: Research is defined as the production of new knowledge and/or the creative use of existing…

Q: 1.To reduce the negative impact of inseparability of a service operation, a service can    A.look…

A: Desclaimer :- as you posted multiple questions we are supposed to only the first one by default . In…

Q: How can the owner of The Burger Barn determine if a one-day promotional sale on milkshakes will…

A: We know that there are two types of related goods . One of them is complimentary goods which are…

Q: Other things remain unchanged, the demand for normal products is expected to increase when buyers'…

A: there is relation between the demand and income so we can choose the correct option as follow-

Q: The relationship between a consumer's monthly income and monthly consumption of four products, W-Z,…

A: Inferior goods are those goods whose demand has negative relation with the income of the consumer…

Q: If textbooks and study guides are complements, then an increase in the price of textbooks will…

A: Complementary goods:- A complimentary commodity is one that is utilised in conjunction with some…

Q: Agree or disagree, during 2009, income fell sharply due to the financial crisis of 2008-2009. This…

A: The entire demand curve for a commodity would shift with a change in consumers income, taste and…