Suppose goods X and Y are complimentary products. Which of the following are correct with respect to the competitive market model of supply and demand? (check all that apply) an increase in the price of good Y will cause an increase in demand for good X and reduce the quantity demanded for good Y an increase in the price of good Y will cause a decrease in demand for good X and reduce the quantity demanded for good Y a decrease in the price of good X will increase the quantity demanded for good X and cause a decrease in demand for good Y a decrease in the price of good X will increase the quantity demanded for good X and cause an increase in demand for good Y

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter5: Markets In Motion And Price Controls
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Suppose goods X and Y are complimentary products.  Which of the following are correct with respect to the competitive market model of supply and demand? (check all that apply)


an increase in the price of good Y will cause an increase in demand for good X and reduce the quantity demanded for good Y
an increase in the price of good Y will cause a decrease in demand for good X and reduce the quantity demanded for good Y
a decrease in the price of good X will increase the quantity demanded for good X and cause a decrease in demand for good Y
a decrease in the price of good X will increase the quantity demanded for good X and cause an increase in demand for good Y
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