Multiple Choice
Suppose a concert by Lady Gaga and a basketball game played by the L.A. Lakers are substitutes, then which of the following is true?
A) If the price of a ticket to a Lakers game increases, then the demand for Lady Gaga tickets will fall.
B) If the price of a ticket to a Lakers game decreases, the quantity of Lakers tickets demanded will increase.
C) If the price of a ticket to a Lakers game increases, then the demand for Lady Gaga tickets will remain unchanged.
D) The price of a ticket to a Lakers game will always equal the price of a ticket to a Lady Gaga concert.
Correct Answer:
Verified
Correct Answer:
Verified
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