Q: Suppose there are only two normal goods in the economy, X and Y. If price of good X increases, which would be the correct statement from below?
(a)Demand for good X decreases and demand for Y is indeterminate.
(b)Demand for good X decreases and demand for Y decreases.
(c)Demand for good X increases and demand for Y is indeterminate.
(d)Demand for good X increases and demand for Y decreases.
Answer pending verification