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

question 21

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)a decrease in the demand for A.

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Definitions:

Elite Theory

A theory in political science and sociology that suggests that societies are divided into a ruling elite and the masses, with the elite exercising significant power regardless of governmental organization.

Government Decisions

Actions or determinations made by the governing authorities of a state, affecting public policy or the administration of society.

Majoritarianism

A traditional political philosophy that emphasizes the majority's right in making decisions that affect the society or group.

Political Theory

A branch of social science that deals with the study and analysis of political ideas, behaviors, and practices.