A decrease in the price of ice cream is likely to cause a(n) _____ in the demand for ice cream cones, due to a change in _____.
A) increase; the price of a complementary good
B) increase; the price of a substitute good
C) increase; consumer preferences
D) decrease; the price of a related good

Question

Quizplus · Accepted Answer

Ice cream cones are a complementary good to ice cream, meaning that they are often consumed together. A decrease in the price of ice cream will make it more affordable, which will increase its demand. As a result, the demand for complementary goods like ice cream cones will also increase.

A Decrease in the Price of Ice Cream Is Likely