If goods A and B are complements, and if the price of good B rises, how will this affect the market equilibrium for good A?
a. Price will rise and quantity will fall.
b. Price will fall and quantity will rise.
c. Price and quantity will both rise.
d. Price and quantity will both fall.
Question 2
If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good?
a. Price will rise and quantity will fall.
b. Price will fall and quantity will rise.
c. Price and quantity will both rise.
d. Price and quantity will both fall.
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
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