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Answer to Question #15448 in Microeconomics for anne gulati

Question #15448
when the price of cars rises, what will be the effect on the equilibrium price and quantity of a)tires
b)bus tickets
Expert's answer
a) when the price of cars rises, there is a reduction of car's demand, demand for the accompanying goods (tires) decreases too, so price and
quantity of tires decreases.
b) when the price of cars rises, the is a reduction of car's demand, more people buy bus tickets because they
can't buy the car. So price and quantity of bus tickets grow up.

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28.09.12, 17:49

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