QUESTION 14 Consider the market for PlayStation video games. Ceteris paribus, what effect will a decrease in the price of the PlayStation gaming system (a complement) have on the market for PlayStation video games? price will fall; quantity will rise price will rise; quantity will fall price will rise; quantity will rise O price will fall; quantity will fall QUESTION 15 Consider the market for gasoline, assuming it's competitive. Ceteris paribus, what effect will a decrease in the price of crude oil (a major input), along with a decrease in demand in the demand for gas, have on equilibrium price and quantity? O price will fall; quantity will rise O price will rise; quantity will fall O price will fall; quantity might increase or decrease price might increase or decrease; quantity will fall
QUESTION 14 Consider the market for PlayStation video games. Ceteris paribus, what effect will a decrease in the price of the PlayStation gaming system (a complement) have on the market for PlayStation video games? price will fall; quantity will rise price will rise; quantity will fall price will rise; quantity will rise O price will fall; quantity will fall QUESTION 15 Consider the market for gasoline, assuming it's competitive. Ceteris paribus, what effect will a decrease in the price of crude oil (a major input), along with a decrease in demand in the demand for gas, have on equilibrium price and quantity? O price will fall; quantity will rise O price will rise; quantity will fall O price will fall; quantity might increase or decrease price might increase or decrease; quantity will fall
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 8E: The Stopdecay Company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per...
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