A. Joint demand
B. cross-elasticity of demand
C. elasticity of supply
D. competitive demand
Correct Answer:
Option A – Joint demand
Explanation
Joint demand is when the demand for one product is directly and positively related to market demand for a related good or service. Example computer system and software. You need a software for a computer to function.
If there is change in the price of a computer system, it will affect the demand for software.
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