if the price of good a decreases by 10 percent and the quantity demanded of good b increases by 10 percent…

if the price of good a decreases by 10 percent and the quantity demanded of good b increases by 10 percent, this is evidence that a and b are\nsubstitute goods.\ncomplement goods.\ninferior goods.\nnormal goods.\nnot related.\nquestion 4\nthe supply of a good will be more elastic, the\nmore the good is considered a luxury.\nbroader is the definition of the market for the good.\nlarger the number of close substitutes for the good.\nlonger the time period being considered.\nmore the demand for the good is elastic.

if the price of good a decreases by 10 percent and the quantity demanded of good b increases by 10 percent, this is evidence that a and b are\nsubstitute goods.\ncomplement goods.\ninferior goods.\nnormal goods.\nnot related.\nquestion 4\nthe supply of a good will be more elastic, the\nmore the good is considered a luxury.\nbroader is the definition of the market for the good.\nlarger the number of close substitutes for the good.\nlonger the time period being considered.\nmore the demand for the good is elastic.

Answer

Brief Explanations:

For the first question, when the price of good A decreases and the quantity demanded of good B increases, they are complement goods. Complement goods are those used together, so a price - drop in one leads to an increase in demand for the other. For the second question, the supply of a good is more elastic the longer the time period being considered. In the long - run, producers have more time to adjust production levels in response to price changes.

Answer:

First question: complement goods. Second question: longer the time period being considered.