Question
Suppose the price of a complement to LCD televisions rises. What effect will this have on...
Suppose the price of a complement to LCD televisions rises. What effect will this have on the market equilibrium for LCD TVs The equilibrium price of LCD TVs will O A decrease and the equilibrium quantity will decrease O B. decrease and the equilibrium quantity will increase C. Increase and the equilibrium quantity will decrease OD. not change and the equilibrium quantity will not change O E. Increase and the equilibrium quantity will increase
Answers
Ans) the correct option is a) decrease and the equilibrium quantity will decrease
When the price of a complement rises, the demand for the good decreases so price and quantity decrease.
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