Is good y a lower-quality product than good x

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Reference no: EM132794934

Martin Corp. produces a good (called X) that is a normal good. Its competitor, Dana Corp. makes a substitute good that it markets under the name Y. Good Y is an inferior good.

a. How will the demand for good X change if the price of good Y increases?

b. Is good Y a lower-quality product than good X? Explain.

Reference no: EM132794934

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