Question 3 If the price of bananas decreases, then: OA. The demand for apples increases, raising the equilibrium price and quality of apples. B. The demand for apples increases, raising the equilibrium price and quantity of apples. OC. The demand for apples decreases, raising the equilibrium price and quantity of apples. OD. The demand for apples decreases, lowering the equilibrium price of apples but raising the equilibrium quantity. OE. The demand for apples decreases, lowering the equilibrium price and quantity of apples.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 3
If the price of bananas decreases, then:
OA. The demand for apples increases, raising the equilibrium price and quality of apples.
OB. The demand for apples increases, raising the equilibrium price and quantity of apples.
OC. The demand for apples decreases, raising the equilibrium price and quantity of apples.
OD. The demand for apples decreases, lowering the equilibrium price of apples but raising the equilibrium quantity.
OE. The demand for apples decreases, lowering the equilibrium price and quantity of apples.
#3
A Moving to the next question prevents changes to this answer.
E
D
Q
$
4
R
F
dlo 5
%
18
T
G
tv
6
MacBook Pro
Y
H
&
7
O
U
8
J
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Nc
K
Transcribed Image Text:n A Moving to the next question prevents changes to this answer. Question 3 If the price of bananas decreases, then: OA. The demand for apples increases, raising the equilibrium price and quality of apples. OB. The demand for apples increases, raising the equilibrium price and quantity of apples. OC. The demand for apples decreases, raising the equilibrium price and quantity of apples. OD. The demand for apples decreases, lowering the equilibrium price of apples but raising the equilibrium quantity. OE. The demand for apples decreases, lowering the equilibrium price and quantity of apples. #3 A Moving to the next question prevents changes to this answer. E D Q $ 4 R F dlo 5 % 18 T G tv 6 MacBook Pro Y H & 7 O U 8 J 4+ Nc K
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