Author Question: Assuming compact discs and cassettes are substitute goods, a decrease in the price of cassettes will ... (Read 119 times)

aabwk4

  • Hero Member
  • *****
  • Posts: 593
Assuming compact discs and cassettes are substitute goods, a decrease in the price of cassettes will cause the demand curve for compact discs to:
 a. shift to the left as consumers switch from buying discs to cassettes.
  b. shift to the right as consumers switch from buying discs to cassettes.
  c. shift to the left as producers increase cassette production and reduce disc production.
  d. remain unchanged since discs and cassettes are sold in separate markets.

Question 2

If the demand for a good increases when the price of another good increases, then these goods are:
 a. complementary in consumption.
  b. complementary in production.
  c. substitute in production.
  d. substitute in consumption.
  e. neither substitutes nor complementary.



Heffejeff

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

a

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

For a complete list of videos, visit our video library