"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:

CUET Economics 2022 Slot 5

Match List - I with List - II.

List - I	List - II
(A) Fall in price of good	(I) Tea and coffee
(B) Complementary goods	(II) Expansion of demand
(C) Substitute good	(III) Shifting of demand curve
(D) Rise in income	(IV) Shoes and socks

Choose the correct answer from the options given below :

27 May Shift 2

Which of the following statements are correct:

(A) Consumer's preferences are monotonic: If and only if between any two bundles, the consumer prefers the bundle which has more of at least one of the goods and no less of the other good as compared to the other bundle.

(B) The tendency for the MRS to fall with increase in quantity of goods is known as the Law of Diminishing Marginal Rate of Substitution.

(D) The budget set is the collection of all bundles that the consumer can buy with their income at the prevailing market prices.

Choose the correct answer from the options given below:

21 May Shift 1

The equation of demand curve of a good for a consumer is given to be $p_d = e$ where e is a constant. What will be the shape of the demand curve?

CUET Economics PYQs

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