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andrew11 [14]
3 years ago
10

How does an increase in the price of one good affect the demand for a complementary good?

Business
1 answer:
erica [24]3 years ago
4 0

Answer:

a point on the demand curve goes down

Explanation:

Complimentary goods are products used together to provide a solution to a customers' need. A complimentary good will not be of any use without its partner product. Complimentary goods exhibit a joint demand.  A rise or decline in the demand for one product will result in the demand for the product moving in the same direction.

An increase in the price of a product leads to a decline in its demand and the demand for its complementary goods.  A decline in demand leads to a price movement along the demand curve. As prices rise, demand decline resulting in the quantity moving downward along the demand curve.

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Answer:

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The following situations refer only to the preceding data; there is no connectionbetween the situations. Unless stated otherwise
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Answer:

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6 0
3 years ago
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Answer:

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