Asked by Robin Smith on Apr 26, 2024
Verified
If the price of eggs decreased,it would probably result in _____ in the demand for bacon,a complement good.
A) a decrease
B) an increase
C) no change
D) random fluctuations
Complement Good
A product that adds value to another product when used in conjunction, such as cameras and memory cards.
Price of Eggs
The cost at which eggs are sold, often influenced by factors such as production costs, market demand, and supply conditions.
Demand for Bacon
The desire and willingness of consumers to purchase bacon at various prices.
- Discern the differences that exist among normal goods, inferior goods, substitutes, and complements.
Verified Answer
MW
Megan WillisApr 30, 2024
Final Answer :
B
Explanation :
Eggs and bacon are complement goods, which means they are often consumed together. If the price of eggs decreased, households may be more likely to purchase eggs and bacon together, increasing the demand for bacon. Therefore, the answer is an increase in the demand for bacon.
Learning Objectives
- Discern the differences that exist among normal goods, inferior goods, substitutes, and complements.