Question : When the price of a car goes up, demand for petrol will______?
Option 1: Rise
Option 2: Fall
Option 3: Remains Constant
Option 4: None of the above.
Answer (1)
21st Jan, 2024
Correct Answer: Fall
Solution :
Cars and petrol are complementary goods, i.e., goods that are demanded together.
In such cases, a rise in the price of one leads to a fall in the demand for the other good.
Hence option B is the correct answer.
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