asked in Social ScienceEconomics · 3 weeks ago

If a consumer purchases only two goods(x and y)and the demand for x is elastic.then a rise in the price of x?

1 Answer

Relevance
  • Oiy
    Lv 4
    3 weeks ago

    will decrease the quantity demanded for x. It's not clear what the consumer will do to y. It might buy more y if y is a substitute, or less y if y is complementary.

Still have questions? Get answers by asking now.