Which of the Following Is the Effect of a Decrease

question 181

Multiple Choice

Which of the following is the effect of a decrease in the price of potato chips on the market for pretzels, a substitute good, that is initially in equilibrium?

• A) Both the equilibrium price and equilibrium quantity of pretzels will increase.
• B) Both the equilibrium price and equilibrium quantity of pretzels will fall.
• C) The equilibrium price of pretzels will increase, and the equilibrium quantity of pretzels will fall.
• D) The equilibrium price of pretzels will fall, and the equilibrium quantity of pretzels will increase.
• E) The equilibrium price and equilibrium quantity of pretzels will remain unchanged.

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