Bananas and Apples Are Substitutes

question 10

Multiple Choice

Bananas and apples are substitutes.When the price of bananas rises,the equilibrium quantity of apples will ________ and the equilibrium price of apples will ________.

• A) increase; increase
• B) increase; decrease
• C) decrease; increase
• D) decrease; decrease

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Definitions:

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a certain level of confidence.

Mean Weekly Salary

The average amount of money earned in a week by a group of employees or population, calculated by summing all salaries and dividing by the number of wage earners.

Female Employees

Refers to workers or staff members who identify as female within a workplace.

Male Employees

Refers to workers or staff members who identify as male within a workplace.