Asked by Tyree McDonald on Jun 26, 2024
Verified
(Figure: Demand for Online Movie Rentals) Use Figure: Demand for Online Movie Rentals.A decrease in the price of Google Chromecast adapters (a complement good) would result in a change illustrated by the move from:
A) f to g in Panel A.
B) h to i in Panel B.
C) j to k in Panel C.
D) l to m in Panel D.
Google Chromecast Adapters
Devices that plug into a television's HDMI port to enable streaming content from mobile devices or computers to the TV screen.
Online Movie Rentals
The service of renting movies through the internet, allowing users to stream or download films and TV shows for a fee or subscription.
- Ascertain the impact of substitutes and complements on market behavior.
- Examine the effects of technological advancements and changes in preferences on the balance of market forces.
Verified Answer
IS
Isaac SalazarJun 28, 2024
Final Answer :
B
Explanation :
A decrease in the price of a complement good (Google Chromecast adapter) would lead to an increase in demand for online movie rentals. This is illustrated by a rightward shift in the demand curve in Panel B from h to i.
Learning Objectives
- Ascertain the impact of substitutes and complements on market behavior.
- Examine the effects of technological advancements and changes in preferences on the balance of market forces.
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