Yell-O Yew-Boats, Ltd. produces Blue Meanies. Consider the demand and supply equations for Blue Meanies:
$Q_d = 150 - 2P_z + 0.001M + 1.5P_y$
$Q_s = 60 + 4P_z - 2.5W$
where $Q_z$ is monthly per family consumption of Blue Meanies, $P_z$ is the price per unit of Blue Meanies, M median annual per family income $25,000, $P_y$ is the price per unit of Apple Bonkers $5.00, and W the hourly per worker wage rate $8.60. What type of good is Apple Bonkers?
Select one:
a. since $P_y$ is the price per unit of Apple Bonkers and it has a positive slope coefficient, Apple Bonkers is a substitute good.
b. since $P_y$ is the price per unit of Apple Bonkers and it has a positive slope coefficient, Apple Bonkers is a complement good.
