Identify which of the following would generate a decrease in the market demand for e-book readers,...
Identify which of the following would generate a decrease in the market demand for e-book readers, which are a normal good.
a. An increase in the price of downloadable apps utilized to enhance the e-book reading experience, which are complements
b. An increase in the number of consumers in the market for e-book readers
c. A decrease in the price of tablet devices, which are substitutes
d. A reduction in the incomes of consumers of e-book readers
Homework Answers
Option a, c and d
a. With the increase in price of downloadable apps, being a complement the demand decreases.
c. Substitute price and demand of a good are directly related.
d. Income and demand for a good is inversely related.
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