A positive technological change will cause the quantity of a good supplied to increase
Indicate whether the statement is true or false
FALSE
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If two resources, such as labor and farm machinery, are complementary,
a. one can be used in place of the other b. an increase in the price of one will increase the demand for the other c. an increase in the price of one will increase the supply of the other d. a decrease in the price of one will increase the productivity of the other, which will decrease the demand for that other resource e. a decrease in the price of one will increase the demand for the other
Suppose a concert by Rihanna and a basketball game played by the Houston Rockets are substitutes, then which of the following is TRUE?
A) If the price of a ticket to a Rockets game increases, then the demand for Rihanna tickets will fall. B) If the price of a ticket to a Rockets game decreases, then the demand for Rihanna tickets will fall. C) If the price of a ticket to a Rockets game increases, then the demand for Rihanna tickets will remain unchanged. D) The price of a ticket to a Rockets game will always equal the price of a ticket to a Rihanna concert.