Which of the following would most likely lead to an increase in the quantity demanded of raspberries? Group of answer choices A decrease in the price of blueberries, a substitute for raspberries. An increase in the price of blueberries, a complement for raspberries.
Question
Which of the following would most likely lead to an increase in the quantity demanded of raspberries? Group of answer choices
A decrease in the price of blueberries, a substitute for raspberries.
An increase in the price of blueberries, a complement for raspberries.
Solution
The correct answer is "A decrease in the price of blueberries, a substitute for raspberries."
Here's why:
If the price of a substitute good (like blueberries) decreases, consumers may switch from the original good (raspberries) to the substitute (blueberries), leading to a decrease in the quantity demanded for the original good (raspberries).
On the other hand, an increase in the price of a complement good would not lead to an increase in the quantity demanded of the original good. If blueberries were a complement to raspberries (meaning they are often used together), an increase in the price of blueberries would likely lead to a decrease in the demand for both blueberries and raspberries, as consumers would cut back on the use of both.
Therefore, neither of these options would lead to an increase in the quantity demanded of raspberries.
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