If two commodities are unrelated, a change in the price o...
If two commodities are unrelated, a change in the price of one will___________
Have effect on the quantity demanded of the other
Have no effect on the quantity demanded of the other
Increase the quantity demanded on the other
Decrease the quantity demanded on the other
Correct answer is B
The two goods are Independent goods. Therefore, a change in the price of one will have no effect on the other. e.g. refrigerator and bicycle. A change in the price of refrigerator will have no effect on bicycle since they are not related.
Which of the following classes of goods accounts for largest proportion of Nigeria's imports? ...
An effective way of controlling inflation in a mixed economy is to ...
Nigeria is currently implementing the ...
In the theory of the consumer behavior, a consumer is said to maximize utility when ...
The transfer of public share holding in corporations to private enterprise is___________? ...
In perfect competition, price is determined by the ...
What fundamentally determines how much a consumer spends in a producer's shop? ...