Question

Suppose the price of a substitute to lcd televisions rises. what effect will this have on the market equilibrium for lcd​ tvs? the equilibrium price of lcd tvs will:_________
a. increase and the equilibrium quantity will increase.
b. not change and the equilibrium quantity will not change.
c. decrease and the equilibrium quantity will increase.
d. increase and the equilibrium quantity will decrease.
e. decrease and the equilibrium quantity will decrease.

Answer 1

Answer:

a. increase and the equilibrium quantity will increase. 

Explanation:

If the price of a substitute to lcd televisions rises, the demand for lcd tvs increase. This would lead to an increase in price and equilibrium quantity.

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