asked in Social ScienceEconomics · 8 months 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

  • Oiy
    Lv 6
    8 months 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.

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