Question
In: Economics
1. why is wine and beer complementary goods? explain. 2. is spirit and wine complementary goods...
1. why is wine and beer complementary goods? explain.
2. is spirit and wine complementary goods or substitutes? explain
Solutions
Expert Solution
The complementary goods are those goods where the demand for other good will be directly proportionate to demand of the complementary good. That is why wine and beer are complementary goods
Spirit and wine are substitute goods because one can be use in place of another.
Rahul Sunny answered 2 years agoRelated Solutions
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a. increase in the demand for pretzels.
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This question comes from the chapter of consumer behaviour in economics.
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brandy, and scotch? What effect does alcohol have on the body and
why was alcohol more important, health wise in the early history of
man than water? Why is alcohol a problem in our society today?
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Explain the differences between beer, ale, wine (red and white),
brandy, and scotch? What effect does alcohol have on the body and
why was alcohol more important, health-wise in the early history of
man than water? Why is alcohol a problem in our society today?
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normal goods and inferior goods, substitutes and complementary
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____________ hours of labor in Belgium, and 1 gallon of wine can be
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_____________ hours of labor in the Netherlands or ______________
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Assuming the cost of labor is the same in both countries, which of
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1. What are the null and alternate hypotheses for the chi-square
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2. What are the expected counts under the null hypothesis?
3. Determine a chi-square test statistic and P value
4. Do you accept or reject the null?
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