Asked by Jeremy Dyzenhaus on May 02, 2024
Verified
If the demand for tires goes down when the price of gas goes up,then tires and gas are:
A) substitutes.
B) complements.
C) both expensive.
D) both inexpensive.
Complements
Goods that are used together, where an increase in the demand for one leads to an increase in demand for the other.
- Comprehend the idea of complements and substitutes and their influence on demand.
Verified Answer
IZ
Izzan ZikriMay 09, 2024
Final Answer :
B
Explanation :
Tires and gas are complements because the demand for one decreases when the price of the other increases, indicating that they are used together.
Learning Objectives
- Comprehend the idea of complements and substitutes and their influence on demand.