If a and B Are Substitutes and the Price of a Rises,we

question 69

Multiple Choice

If A and B are substitutes and the price of A rises,we will observe

• A)an increase in the equilibrium price and the equilibrium quantity of B.
• B)a decrease in the equilibrium price and the equilibrium quantity of B.
• C)an increase in the equilibrium price but a decrease in the equilibrium quantity of B.
• D)a decrease in equilibrium price but an increase in the equilibrium quantity of B.
• E)none of the above.

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Definitions:

Macro Perspective

A broad approach in analysis that considers the larger-scale processes and structures affecting societies, economies, or industries.

Micro Perspective

An approach focusing on small scale interactions or individual elements within a system, in contrast to macro perspectives which look at larger scale patterns or structure.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group to identify solutions to problems.

Secret Vote

A voting method in which voters choose in privacy without disclosing their selection to others, ensuring confidentiality and preventing influence.