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If two goods are complements: they are consumed independently. an increase in the price of one will increase the demand for the other. a decrease in the price of one will increase the demand for the other. they are necessarily inferior goods.

If two goods are complements: they are consumed independently. an increase in the price of one will increase the demand for the other. a decrease in the price of one will increase the demand for the other. they are necessarily inferior goods.

MACROECONOMICS
MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 1DQ
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If two goods are complements: O they are consumed independently. an increase in the price of one will increase the demand for the other. a decrease in the price of one will increase the demand for the other. they are necessarily inferior goods.
Transcribed Image Text:If two goods are complements: O they are consumed independently. an increase in the price of one will increase the demand for the other. a decrease in the price of one will increase the demand for the other. they are necessarily inferior goods.
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