Apple, the Consumer Electronics Giant, on Tuesday Rolled Out New

question 197

Multiple Choice

Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen-only device. An 8-gigabyte version now costs $229, down from $299. A 32-gigabyte model costs $399, down from $499. Suppose when the price of an iPod decreases by 20 percent, the number of songs downloaded on iTunes increases by 30 percent. Based on this information iTunes are

• A) a normal good.
• B) an inferior good.
• C) substitutes for iPods.
• D) complements to iPods.

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Definitions:

Truth Tables

Truth tables are logical tools used to systematically explore the possible truth values of propositions depending on the truth values of their components.

Contradictory

Relates to two statements that cannot both be true at the same time, indicating a relationship where the truth of one necessitates the falsity of the other.

Symbolic Form

the representation of objects, concepts, or actions by symbols to facilitate understanding or communication.

Components

Basic elements or parts that make up a system or device.