Complementary goods - Revision history

Ed Poor: an increase in the price of one good causes a decrease in the demand for the related good.

2007-05-23T20:47:49Z

an increase in the price of one good causes a decrease in the demand for the related good.

Chris8490 at 20:45, May 23, 2007

2007-05-23T20:45:54Z

Sulgran at 22:38, May 20, 2007

2007-05-20T22:38:27Z

Monotreme at 11:25, February 23, 2007

2007-02-23T11:25:39Z

Aschlafly at 22:52, February 17, 2007

2007-02-17T22:52:17Z

New page

Complementary goods are commodities that depend on each other such that in increase in the price of one good causes a decrease in the demand for the related good. For example, an increase in the price of french toast could cause a decrease in the demand for maple syrup, because those two goods are often consumed together. An increase in the price of salad dressing could cause a decrease in demand for salad.

Complementary goods are the opposite of [[substitute goods]].

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-'''Complementary goods''' are commodities that depend on each other such that an increase in the price of one good causes a decrease in the demand for the related good.  For example, an increase in the price of [[French toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together.  An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].  Thus, complementary goods will always have a negative cross elascticity of demand (% change in demand for good A divided by % change in price of good B)
+'''Complementary goods''' are commodities that depend on each other such that an increase in the [[price]] of one good causes a decrease in the [[demand]] for the related good.  For example, an increase in the price of [[French toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together.  An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].  Thus, complementary goods will always have a negative cross elasticity of demand (% change in demand for good A divided by % change in price of good B)
 Complementary goods are the opposite of [[substitute goods]].
 [[Category:Economics]]

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-'''Complementary goods''' are commodities that depend on each other such that in increase in the price of one good causes a decrease in the demand for the related good.  For example, an increase in the price of [[French toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together.  An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].
+'''Complementary goods''' are commodities that depend on each other such that an increase in the price of one good causes a decrease in the demand for the related good.  For example, an increase in the price of [[French toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together.  An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].  Thus, complementary goods will always have a negative cross elascticity of demand (% change in demand for good A divided by % change in price of good B)
 Complementary goods are the opposite of [[substitute goods]].
 [[Category:Economics]]

← Older revision		Revision as of 22:38, May 20, 2007
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−	Complementary goods are commodities that depend on each other such that in increase in the price of one good causes a decrease in the demand for the related good. For example, an increase in the price of [[~~french~~ toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together. An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].	+	'''Complementary goods''' are commodities that depend on each other such that in increase in the price of one good causes a decrease in the demand for the related good. For example, an increase in the price of [[French toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together. An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].

	Complementary goods are the opposite of [[substitute goods]].		Complementary goods are the opposite of [[substitute goods]].
		+
		+	[[Category:Economics]]

← Older revision		Revision as of 11:25, February 23, 2007
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−	Complementary goods are commodities that depend on each other such that in increase in the price of one good causes a decrease in the demand for the related good. For example, an increase in the price of french toast could cause a decrease in the demand for maple syrup, because those two goods are often consumed together. An increase in the price of salad dressing could cause a decrease in demand for salad.	+	Complementary goods are commodities that depend on each other such that in increase in the price of one good causes a decrease in the demand for the related good. For example, an increase in the price of [[french toast]] could cause a decrease in the demand for [[maple syrup]], because those two goods are often consumed together. An increase in the price of [[salad dressing]] could cause a decrease in demand for [[salad]].

	Complementary goods are the opposite of [[substitute goods]].		Complementary goods are the opposite of [[substitute goods]].