Cell phones and bluetooth headsets are complements. A decrease in the price of bluetooth headsets would cause which of the following in the market for cell phones?
A. The equilibrium price of cell phones would decrease and the equilibrium quantity would increase.
B. The equilibrium price and quantity of cell phones would increase.
C. The equilibrium price and quantity of cell phones would decrease.
D. The equilibrium price of cell phones would increase and the equilibrium quantity would decrease.
Answer: B
You might also like to view...
A physician's ability to induce demand is greatly enhanced when
a. patients pay their own medical bills. b. patients request follow-up visits. c. patients have difficulty gathering and processing information. d. the physician follows strict treatment guidelines. e. treatment options are limited.
The present value of $500,000 in 4 years at 7 percent interest is approximately:
A. $381,448. B. $655,398. C. $344,682. D. None of these statements is true.
Which of the following is an example of a private good?
a. Cable television b. Health care c. The judiciary d. Cars
In 1960, spending on income transfers and health care accounted for 21.5 percent of the federal budget. In 2012, these two items accounted for
a. less than 15 percent of the federal budget. b. approximately 25 percent of the federal budget. c. approximately 37 percent of the federal budget. d. approximately 57 percent of the federal budget.