14 Fresh cream is a substitute for ice-cream and waffles are a complement of bot

Question

14 Fresh cream is a substitute for ice-cream and waffles are a complement of both. If the price of ice-cream falls, one can expect that a) The demand for fresh cream will increase and the quantity of waffles demanded will increase. b) The demand for fresh cream will decrease and the demand for waffles will increase c) The quantity of fresh cream demanded will decrease and the demand for waffles will increase. d) The quantity of fresh cream demanded will decrease and the quantity of waffles demanded will increase

Explanation / Answer

Option B.

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