3 Questions
Which of the following is true when Good 1 and Good 2 are perfect complements?
An increase in the price of Good 1 increases the optimal quantity of Good 2 consumed
What happens to the optimal quantity of Good 1 consumed when the price of Good 1 decreases?
The optimal quantity of Good 1 consumed increases
What type of relationship exists between Good 1 and Good 2 when they are perfect complements?
Complementary goods
Test your understanding of perfect complements and their impact on consumption! This quiz explores how an increase in the price of Good 1 affects the optimal quantity of Good 1 consumed when it is a perfect complement to Good
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