In a Survey It Was Determined That the Demand Equation

question 78

Multiple Choice

In a survey it was determined that the demand equation for VCRs is given by The demand equation for blank VCR tapes is given by where and denote the unit prices, respectively, and and denote the number of VCRs and the number of blank VCR tapes demanded each week. Determine whether these two products are substitute, complementary, or neither.

• A) neither
• B) substitute
• C) complementary

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Definitions:

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