please answer this quickly I need it ASAP Suppose the prices

please answer this quickly I need it ASAP!

Suppose the prices of electricity falls sharply. Which of the following would most likely occur as the result of the lower prices of electricity? a reduction in the consumption of gasoline an increase in demand for gas ovens and stoves an increase in demand for solar power systems more air conditioners being sold

Solution

Correct option is (4).

Electricity is a complement in consumption with air conditioners. Therefore, a decrease in price of electricity will increase the quantity demanded of electricity, and increase the demand for (number of units sold) air conditioners.