If All Else Is Held Constant,what Would Happen to the Equilibrium

question 131

Multiple Choice

If all else is held constant,what would happen to the equilibrium price and quantity of iPhones if the price of an Android phone decreased?

• A) They would both increase.
• B) They would both decrease.
• C) One would increase and one would decrease, but we do not know which would do what.
• D) The price would increase and the quantity would decrease.
• E) The price would decrease and the quantity would increase.

---

Definitions:

Total Cost of Ownership

The comprehensive assessment of the direct and indirect costs and benefits related to the purchase of any capital investment, such as computer equipment, software, or systems.

Decentralization

The distribution of decision-making powers from a central authority to local or individual levels within an organization or system.

Job Boredom

A state of disinterest and lack of engagement experienced by employees due to unchallenging, repetitive, or monotonous work tasks.

Reducing Prices

Implementing strategies to lower the selling price of goods or services to stimulate demand or remain competitive.