What is true of complementary products?
A)When the price of one increases,the quantity purchased of the other decreases.
B)When the price of one increases,the quantity purchased of the other increases.
C)When the price of one decreases,the quantity purchased of the other decreases.
D)They are products which compete with one another.

Question

Quizplus · Accepted Answer

Complementary products are those which are consumed or used together, such as hot dogs and buns or razor blades and shaving cream. When the price of one of these products increases, it will typically cause a decrease in the quantity purchased of the other product, as consumers may be deterred from purchasing both at the higher price. This is known as an inverse relationship between the prices of complementary products.

What Is True of Complementary Products