Answer:
The correct answer is B. demand for good X will increase.
Explanation:
Two goods, X and Y, are said to be substitutes if they can be used to serve the same purpose. Thus, if good X is a substitute to good Y, then X can be used in place of Y and Y can be used in place of X.
For substitute goods, the cross-price elasticity of demand is positive. This means that if the price of one good rises, the demand for the substitute good increases.
Answer:
B) unsought goods
Explanation:
The selling concept -
The concept of selling tells that the consumers will not buy enough any product of any firm unless and until it undergoes some large - scale selling and promotional efforts .
This concept is used for unsought goods , the goods those which the buyers do not normally think of buying , example insurance .
Answer:
220
Explanation:
Let us assume the adult ticket be X
And, the student ticket be Y
So, the first equation is
X + Y = 360
So, Y = 360 - X
Now the second equation is
5X + 3Y = $1,360
Now put the Y value to the above equation
5X + 3 × (360 - X) = $1,360
5X + 1,080 - 3X = $1,360
2X = $1,360 - $1,080
2X = $280
X = 140
Now the X + Y = 360
So, Y equal to
= 360 - 140
= 220
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