A decrease in demand for cameras would likely be caused by A. an increase in the price of cameras. B. a decrease in the price of cameras. C. an increase in the price of a substitute good. D. an increase in the price of a complementary good.

Question

Business

Daphne Baxter

28 April, 14:21

A decrease in demand for cameras would likely be caused by A. an increase in the price of cameras. B. a decrease in the price of cameras. C. an increase in the price of a substitute good. D. an increase in the price of a complementary good.

+1

Answers (1)

Know the Answer?

Ismael Buchanan · Answer 1

Option (D) is correct.

Explanation:

For example:

Suppose there are two complimentary goods: Cameras and lens.

Complimentary goods refers to the goods which are used together to satisfy a given want. If there is an increase in the price of lens then as a result the demand for cameras decreases and if there is a fall in the price of lens then as a result the demand for cameras increases. This clearly shows that there is an inverse relationship between the price of lens and demand for cameras.