-Scooters and Bicycles Are Substitutes

question 63

Multiple Choice

-Scooters and bicycles are substitutes. Suppose the price of a bicycle falls. Which of the figures above best illustrates how this fall in price affects the demand curve for scooters?

• A) Figure A
• B) Figure B
• C) Figure C
• D) Figure D
• E) None of the above answers is correct because the change in the price of a bicycle will affect the supply curve NOT the demand curve.

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Definitions:

Qualitative

Pertaining to descriptions or distinctions based on qualities rather than on quantity or numerical values, often used in research to explore complex phenomena.

Connotative

Relating to the implied or associated meaning of a word or expression, beyond its explicit or dictionary definition.

Well-Being

The state of being comfortable, healthy, or happy.

Potential Bias

The possibility of prejudice or partiality in judgment, decision-making, or representation that could affect outcomes or data.