Positive technological change in the production of LCD televisions caused the price of LCD televisions to fall. Holding everything else constant, how would this affect the market for Blu-ray players (a complement to LCD televisions)?
A) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.
B) The demand for Blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and Blu-ray players.
C) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase.
D) The supply of Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.
C
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