Bananas and Apples Are Substitutes

question 108

Multiple Choice

Bananas and apples are substitutes.When the price of bananas falls and a technological advancement in apple production occurs at the same time,

• A) the equilibrium price of apples rises and the equilibrium quantity of apples falls.
• B) the equilibrium price of apples rises and the equilibrium quantity of apples rises.
• C) the equilibrium price of apples rises and the equilibrium quantity of apples might rise or fall.
• D) the equilibrium price of apples falls and the equilibrium quantity of apples might rise or fall.

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Definitions:

Standardized IQ

A measure of an individual's intelligence relative to a large, normative population, based on a standardized intelligence quotient (IQ) test.

Scores Increasing

A phenomenon or outcome where numeric values, such as test scores or performance metrics, show an upward trend over time.

Flynn Effect

The observed rise over time in standardized intelligence test scores, named after James R. Flynn.

Flynn Effect

The observed rise in average IQ scores over successive generations, attributed to environmental factors such as improved education and nutrition.