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A complementary good to oil is gasoline. As oil is refined into gasoline, the two are directly related; an increase in oil production typically leads to a decrease in gasoline prices, making them more accessible. Other examples include diesel fuel and lubricants, which are also derived from oil and used in conjunction with it.
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What is an example of a complementary brand?
A good example could be tide and Whirlpool
What are the complementary color?
all complementary colors are directly across from each other. Example: Purple---- Yellow or Blue--- Orange
If two goods are complementary a(n)?
If two goods are complementary, an increase in the price of one good will lead to a decrease in the demand for the other good. This is because consumers typically use these goods together, so if one becomes more expensive, they are less likely to purchase both. Conversely, a decrease in the price of one good can increase the demand for both goods.
What is the complementary 65 and 25?
That is exactly it, complementary means two angles that add up to 90 degrees. 25 is the complementary of 65, and vise versa.
Are red and yellow complementary?
Red and yellow are not complementary colors. In color theory, complementary colors are those that are opposite each other on the color wheel, creating strong contrast when paired. Red's complementary color is green, while yellow's complementary color is purple. When red and yellow are combined, they create orange, which is a secondary color rather than a direct complementary relationship.
What are complementary goods to oil?
Complementary goods to oil include products that are typically consumed together with oil or whose demand increases with the use of oil. Some examples include gasoline, which is refined from crude oil, and products like diesel fuel, jet fuel, and heating oil. Additionally, goods like automobiles and machinery that rely on oil for operation can also be considered complementary goods. When oil prices rise, the demand for these complementary goods often correlates with that change.
Are cars complementary goods for oil?
yes.
What happens to the demand for the main good if the price of a complementary good increases?
If the price of a complementary good increases, the demand for the main good typically decreases.
What is the difference between a substitute good and a complementary good?
A substitute good is one that can be used in place of another good whereas a complementary good is one that is used together with another good.
What is the difference between a complementary good and a substitute good?
A complementary good is one that is typically used together with another good, while a substitute good is one that can be used in place of another good.
What kind of good is consumed together like peanut butter and jelly?
Complementary goods are consumed together.
What is the relationship between a change in the price of a complementary good and demand for another complementary good is?
When the price of a complementary good decreases, the demand for the related good typically increases. This is because complementary goods are often used together; for example, if the price of printers falls, the demand for ink cartridges may rise as more people purchase printers. Conversely, if the price of a complementary good increases, the demand for the other good may decrease. This relationship highlights how the pricing of one good can significantly affect the consumption patterns of its complement.
Is wheat a complementary good or supplementary good of bread?
No they are not complementary goods. The two can be consumed separately without reducing the level of satisfaction to the consumer
If the price of a complementary good increases, how will it affect the demand for the main product?
If the price of a complementary good increases, the demand for the main product will decrease.
What is complementary goods?
Good that is used together with another good.
What is the relationship between a complementary good and the main product it is paired with?
A complementary good is a product that is typically used together with another product. The relationship between a complementary good and the main product it is paired with is that they are often purchased or consumed together because they enhance each other's value or utility. When the price of one product changes, it can impact the demand for the complementary good as well.
What is the definition of complementary goods and how do they relate to each other in the market?
Complementary goods are products that are used together or in conjunction with each other. They are often purchased and consumed together because they enhance the value or utility of each other. In the market, the demand for one complementary good is directly related to the demand for the other. When the price of one complementary good changes, it can impact the demand for the other complementary good.
