The number of satellite dishes increased by 50 percent when the average monthly price of cable TV increased by 10 percent. Assuming that other factors are held constant, satellite dishes and cable TV are classified as:
a. complements.
b. unrelated goods.
c. substitutes.
d. social goods.
c
You might also like to view...
Explain the ways in which the government can persuade private businesses to invest more in order to speed up the process of capital formation?
Refer to Figure 2-11. Which country has a comparative advantage in the production of cotton?
A) Pakistan B) Indonesia C) They have equal productive abilities. D) neither country
In 2015, full-time workers aged 25 and over with a college degree earned ________ school dropouts
A) 20 times as much as B) 2.5 times as much as high C) 5 times as much as D) roughly the same amount as
Figure 4.3 illustrates the demand for tacos. Assume that tacos and beer are complements. A decrease in the price of beer would bring about a movement from:
A. point a to point c. B. point c to point a. C. D2 to D0. D. D0 to D2.