Business, 21.03.2020 02:13 brutusjohnson1

Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen- only device. An 8-gigabyte version now costs $229, down from $299. A 32-gigabyte model costs $399, down from $499. Suppose when the price of an iPod decreases by 20 percent, the number of songs downloaded on iTunes increases by 30 percent.
1. Based on this information iTunes are:
O an inferior good.
O complements to iPods
O substitutes for iPods.
O a normal good.

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Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music...

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