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Use the Following Schedule of Data for for the Following

Question 36

Multiple Choice

Use the following schedule of data for for the following question
 Price  Dollars/Widget)   Quartity Dernarded  Hundreds)   Quartity Bupplied  Hurdreds)  $252545243040223535204030184525\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price } \\\text { Dollars/Widget) }\end{array} & \begin{array} { c } \text { Quartity Dernarded } \\\text { Hundreds) }\end{array} & \begin{array} { c } \text { Quartity Bupplied } \\\text { Hurdreds) }\end{array} \\\hline \$ 25 & 25 & 45 \\\hline 24 & 30 & 40 \\\hline 22 & 35 & 35 \\\hline 20 & 40 & 30 \\\hline 18 & 45 & 25 \\\hline\end{array}
-Goods A and B are considered complement goods.If the price of A increases what are the effects on equilibrium price and quantity of Good B?


A) Equilibrium price increases, equilibrium quantity increases
B) Equilibrium price decreases, equilibrium quantity decreases
C) Equilibrium price increases, equilibrium quantity decreases
D) Equilibrium price decreases, equilibrium quantity increases

Correct Answer:

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