8
QuizMultiple Choice

Unit 2 Test

Question 8 • (OC27) Economics-2102310-Sem-Meadows

How might a drop in price for washing machines affect the demand for dryers?

Answer
A
The demand for dryers would have no relation to the changing prices of washing machines.
B
The demand for dryers would most likely increase as the price for washing machines dropped.
C
The demand for dryers would most likely decrease as the price for washing machines dropped.
D
The demand for dryers would only be affected by an increase in the price of washing machines.

Explanation

Washing machines and dryers are commonly used together, so they are complementary goods. When washing machines become cheaper, more people are likely to buy them, which can also increase demand for dryers. Therefore, demand for dryers would most likely increase as washing machine prices drop.

AI-written and checked against the verified answer.

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