If the Price of Orchids Falls, the Substitution Effect Due

question 175

Multiple Choice

If the price of orchids falls, the substitution effect due to the price change will cause

• A)an increase in the demand for orchids.
• B)an increase in the demand for roses, a substitute for orchids.
• C)an increase in the quantity of orchids demanded.
• D)an increase in the quantity of orchids supplied.

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Definitions:

Virtual Technology

Another name for virtualization, which is a process that allows multiple operating systems to be installed and share hardware resources.

Operating Systems

Software platforms that manage hardware resources and provide services for computer programs, acting as an intermediary between the user and the machine.

Sharing

The act of making data or resources available to other users or systems.

Zigbee

A wireless standard managed by the Zigbee alliance used in low-power, low-distance devices such as sensors and devices found in smart homes, like lights, thermostats, security, cameras, door locks, garage doors, and digital assistants.