Refer to Scenario 3

question 276

Multiple Choice

Refer to Scenario 3.1 below to answer the question(s) that follow.
SCENARIO 3.1
-Streaming movies and movies shown in theaters are substitutes.
-Streaming movies and OLED TVs are complements.
-OLED TVs and movies shown in theaters are normal goods.
-People watch streaming movies more often in the winter than in the summer.
-Refer to Scenario 3.1. If the number of sites streaming movies increases by 10%, which of the following would occur?

• A) The price of streaming movies would increase and the price of OLED TVs and movie tickets would decrease.
• B) The price of streaming movies and the price of movie tickets would decrease, but the price of OLED TVs would increase.
• C) The price of streaming movies and the price of movie tickets would increase, but the price of OLED TVs would decrease.
• D) The price of streaming movies would increase, but the price of OLED TVs and movie tickets would be unaffected.

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Definitions:

K-12

Education from kindergarten through 12th grade, encompassing primary and secondary education in the United States.

Educational System

A structured and formal process designed for the teaching and learning of knowledge and skills.

Alimony

Payments made to a spouse or ex-spouse under a separation or divorce agreement, potentially deductible for the payer and taxable for the recipient.

Former Spouse

An individual who was previously married to another individual but is now legally divorced or separated.