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WAEC Economics 2007 Question 13

Question 13

Theory of Demand

If the price of good X rises and the quantity demanded of good Y increases then the two goods X and Y must be

  1. A.inferior goods
  2. B.substitutes
  3. C.complements
  4. D.free goods.
Show the answer and explanation

Answer: B (substitutes)

Explanation

When X becomes dearer people switch to Y, so X and Y are substitutes.