Multiple Choice
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 supply of blu-ray players would increase and the equilibrium price of blu-ray players would decrease.
B) The demand for blu-ray players would increase and the equilibrium price of blu-ray players would increase.
C) The demand for blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and blu-ray players.
D) The demand for blu-ray players would increase and the equilibrium price of blu-ray players would decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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