Final answer:
When the price of ironing boards decreases, the quantity of irons demanded and supplied may increase, while the equilibrium quantity and price of irons may or may not change. The correct option is A.
Step-by-step explanation:
In response to a decrease in the price of ironing boards, the quantity of irons demanded at each possible price of irons will increase. This is because a decrease in the price of ironing boards makes them more affordable, leading to an increase in demand for irons as people are more likely to purchase them.
On the other hand, the equilibrium quantity of irons will not necessarily change. The equilibrium quantity is determined by the intersection of supply and demand curves, and a decrease in the price of ironing boards may or may not cause a shift in the supply curve.
The equilibrium price of irons may decrease in response to a decrease in the price of ironing boards. If the supply curve shifts to the right due to factors such as increased production or lower production costs, the equilibrium price will decrease.
The quantity of irons supplied at each possible price of irons will increase if the decrease in price leads to an increase in supply. This would happen if suppliers are able to produce and offer more irons at lower prices.