If textbooks and study guides are complements,then an increase in the price of textbooks will result in
A)more textbooks being sold.
B)more study guides being sold.
C)fewer study guides being sold.
D)no difference in the quantity sold of either good.

Question

Quizplus · Accepted Answer

Complements are products that are used together, meaning that an increase in the price of one will lead to a decrease in the demand for the other. In this case, if the price of textbooks increases, students may not be able to afford the textbooks and, therefore, will not purchase study guides that accompany them. As a result, the demand for study guides will decrease, leading to fewer study guides being sold.

If Textbooks and Study Guides Are Complements,then an Increase in the Price