Wine and cheese are complement goods because they are consumed together.What would you expect to happen to the equilibrium quantity of cheese if the price of wine increased and all else is held constant?
A) It would increase because of a supply shift.
B) It would increase because of a demand shift.
C) It would stay the same because of both a demand and a supply shift.
D) It would decrease because of a supply shift.
E) It would decrease because of a demand shift.
Correct Answer:
Verified
Q84: What would you expect to happen to
Q86: In the first few months of 2012,the
Q88: According to the supply and demand model,when
Q90: When both curves shift:
A) equilibrium price is
Q92: When firms in a market are operating
Q93: When both supply and demand shift to
Q109: Assume that the market for baseballs is
Q126: When both supply and demand decrease,the equilibrium
Q134: When both supply and demand shift to
Q135: In one year,15 bowling alleys opened in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents