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Loraine Loraine
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8 years ago
If the demand for used cars decreases after the price of a new car falls, used cars and new cars are
A) inferior goods.
B) substitute goods.
C) complementary goods.
D) normal goods.
E) The questions errs because it is the quantity of used cars, NOT the demand for used cars, that will change when the price of a new car falls.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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DropxDropx
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8 years ago
Happy to help, let me know if you have any more requests.
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