Kiwis and Strawberries Are Substitutes for Consumers

question 54

Multiple Choice

Kiwis and strawberries are substitutes for consumers.An increase in the price of a kiwi coupled with an increase in the number of strawberry growers ________ the equilibrium price of a pound of strawberries and ________ the equilibrium quantity of strawberries.

• A) raises; increases
• B) probably changes, but more information is needed to determine if it rises or falls; increases
• C) raises; probably changes, but more information is needed to determine if it increases or decreases
• D) lowers; probably changes, but more information is needed to determine if it increases or decreases
• E) lowers; increases

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Definitions:

Running Shoes

Footwear designed to enhance comfort, support, and performance specifically for the activity of running.

New Car

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Wholesaling

The sale of goods to retailers, to industrial, commercial, institutional, or other professional business users, or to other wholesalers.

Retailers

Entities that sell goods or commodities directly to consumers, operating in both physical locations and online platforms.