"Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to. Option 1: Complementary goods Option 2: Normal goods Option 3: Inferior goods Option 4: Substitute goods

The answer is 'Substitute goods'. View full solution:

CUET Economics - "Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to. | PYQs + Solutions

CUET Economics

Micro

Easy

Complementary goods

Normal goods

Inferior goods

Substitute goods

✅ Correct Option: 4

Related questions:

22 May Shift 1

The price of a commodity increases by 10%, its demand drops by 12%. What is the nature of price elasticity of demand?

22 May Shift 2

Arrange the following concept emerges in context of consumer equilibrium.

(A) Transfer his expenditure from Good Y to Good X.

(B) Sacrifice more of Good Y to gain Good X.

(D) Suppose, Marginal Rate of Substitution (MRSxy) > Market Rate of Exchnage.

Choose the correct answer from the options given below:

CUET Economics 2022 Slot 3

The price and quantity at a point on the demand curve of a good are given as 10 and 50 respectively. If the price is changed to 6 and as a result quantity changes to to 65, how do you explain the change.

CUET Economics PYQs

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