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If you are considering buying either an Apple Watch or a Samsung Gear S2, and you choose the Samsung only because the price is lower, then you consider 1 point a)the Apple Watch and the Samsung Gear S2 to be substitutes
If you are considering buying either an Apple Watch or a Samsung Gear S2, and you choose the Samsung only because the price is lower, then you consider
1 point
a)the Apple Watch and the Samsung Gear S2 to be substitutes.
b)the Apple Watch and the Samsung Gear S2 to be complements.
c)the Apple Watch to be a normal good and the Samsung Gear S2 to be an inferior good.
d)the Apple Watch to be an inferior good and Samsung Gear S2 to be a normal good.
Expert Solution
Answer is (a) the apple watch and Samsung gear S2 be perfect substitutes .
Because we buy that good whose price is lower when both goods substitutes for us.
Why others are not true .
(b) complement goods are goods that are used together but in the given case these Samsung gear S2 and apple watch can not be used together.
(C) inferior goods are the goods that are related to the income of the consumer not with price.
(d) same as part (c)
Answer: (a)
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