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Question

Economics Question on Goods and Services

There are two goods, Good X and Good Y. Suppose there is an increase in the price of Good X and decrease in the price of Good Y simultaneously. Choose the correct diagram that shows its effect.

A

There are two goods, Good X and Good Y. Suppose there is an increase

B

There are two goods, Good X and Good Y. Suppose there is an increase

C

There are two goods, Good X and Good Y. Suppose there is an increase

D

There are two goods, Good X and Good Y. Suppose there is an increase

Answer

There are two goods, Good X and Good Y. Suppose there is an increase

Explanation

Solution

The correct option is (C).