As a Result of an Increase in the Price of a Complement

question 124

Multiple Choice

As a result of an increase in the price of a complement to your firm's product, you should anticipate a________ price for your product than the current equilibrium price and a _________ equilibrium quantity than the current equilibrium quantity.

• A)higher; higher
• B)higher; lower
• C)lower; higher
• D)lower; lower

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Definitions:

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The line of authority and responsibility along which orders are passed within an organization, military unit, or government body.