How Markets Work Unit Test
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Question
Movie tickets and popcorn are complementary goods. The price of corn, a good used in the production of popcorn, has fallen in price. Simultaneously, the rise of at-home streaming services have led movie theaters to decrease the amount of movies they offer. What is the result of these two events on the market for movie tickets?(1 point)
Responses
The market equilibrium quantity of movie tickets will definitely fall.
The market equilibrium quantity of movie tickets will definitely fall.
The market equilibrium price of movie tickets will definitely fall.
The market equilibrium price of movie tickets will definitely fall.
The market equilibrium price of movie tickets will definitely rise.
The market equilibrium price of movie tickets will definitely rise.
The market equilibrium quantity of movie tickets will definitely rise.
The market equilibrium quantity of movie tickets will definitely rise.
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The correct response is:
The market equilibrium price of movie tickets will definitely fall.