Which of the following pairs of goods are NOT complements?
A) Hockey sticks and hockey pucks
B) Computer CPUs and computer monitors
C) On-campus student housing and off-campus rental apartments
D) all of the above
E) none of the above
C
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Which of the following is not true of a pure monopoly?
a. Demand is negatively sloped b. Marginal revenue is less than price therefore the firm should consider raising its price until marginal revenue equals demand c. Marginal revenue is less than average revenue therefore the firm should consider adjusting its quantity until marginal revenue equals average revenue d. It is a price taker e. Its position is protected by significant barriers to entry
When a market is not in equilibrium:
A. a change in either supply or demand is required to reestablish equilibrium. B. the economic motives of sellers and buyers will move the market to its equilibrium. C. government intervention is required to achieve equilibrium. D. there is neither excess supply nor excess demand.