The Price of a New Textbook Increases from $200 to $270

question 400

Multiple Choice

The price of a new textbook increases from $200 to $270, while the price of used copies of the textbook increased from $100 to $125. Other things being equal, we would expect

• A) the quantity demanded of the used textbook to increase and the quantity demanded of the new textbook to decrease.
• B) the quantity demanded of both to fall.
• C) the demand for the new textbook to increase and the demand for the used textbook to decrease.
• D) the quantity demanded of the used textbook to decrease and the quantity demanded of the new textbook to increase.

---

Definitions:

Checklist

A list of items or tasks to be checked or completed, used as a reminder or for systematic verification.

Structured Interview

A systematic interviewing method where all candidates are asked the same predetermined questions in the same order to ensure comparability of data.

Transformational Leadership

A style of leadership where the leader works with their team to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.

360-Degree Feedback

A performance appraisal system where an employee receives confidential, anonymous feedback from multiple sources such as peers, subordinates, and supervisors.