Consumers Regard Dell Computers and Apple Computers as Substitutes

question 15

Multiple Choice

Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the

• A) demand for Apple computers decreases.
• B) demand for Dell computers increases.
• C) supply of Dell computers increases.
• D) demand for Apple computers increases.
• E) demand for Dell computers decreases.

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Definitions:

UCC

This extensive legal framework, the Uniform Commercial Code, establishes the rules governing commercial transactions in the United States.

Tenders

Formal offers to carry out work, supply goods, or buy land, goods, or services at a specified price.

Security Interest

A legal claim or lien on collateral, which gives the holder the right to seize property if the debtor fails to meet the obligations of a loan or agreement.

Line of Credit

An arrangement between a financial institution and a client that establishes a maximum loan balance that the borrower can access.