Assuming that fish and chips are complementary products, if the price of fish rises, then the demand for chips will:

Q: How might companies such as Mars and Nestlé react to an increase in the price of sugar?

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The market equilibrium is shown by the intersection of the ........... curve and the .............…

A: A market provides a platform for the interaction of households and suppliers to engage in economic…

Q: What impact on the market for beef will result from a decreases in the price of corn?     There…

A: Market equilibrium is attained when the demand and supply forces intersect each other. Shifts in…

Q: Automobile firms can use their inputs to make hybrid cars or "regular" (non-hybrid) cars. If the…

A: Supply Curve: - supply curve is the graphical way of showing the relationship between the quantity…

Q: If the price of X decreases and this decreases the demand for Y, then

A: If the quantity demanded of a commodity decrease due to change in the price of another commodity is…

Q: Suppose the supply of good X is given by Qsx = 10 + 2Px. How many units of good X are produced if…

A: The markets are the place in the economy where different goods, services, assets, investments,…

Q: Consider the relationship between the demand for the following products: vodka and grains. What…

A: Complementary goods are those goods that are used together or in conjunction. The absence of one…

Q: increase in the price of chilies is inversely proportional to the amount of demand for chilies is an…

A: According to law of demand, other things being constant, there is an inverse relationship between…

Q: when the demand for one commodity falls due to the fall in the price of the other good, the two…

A: # We know we have two combination of goods available which are complements and substitutes.…

Q: If two goods are complements, a decline in the price of one will cause an increase in the demand for…

A: The cross elasticity shows the response of the change in the price of one commodity on the demand of…

Q: If coffee and cream are complements, an increase in the price of coffee will cause the demand for…

A: Complementary goods are the goods that are consumed together. In this case cream and coffee are…

Q: What effect will each of the following have on the demand for small automobiles such as the Mini…

A: Demand refers to the amount of willingness and ability of the consumer to purchase the goods and…

Q: If the price of hamburger decreases from $3 to $2, then the weekly market quantity supplied will

A: Quantity supplied is the total quantity of products that producers manufacture to sell in the market…

Q: Which of the following would cause an increase in demand in the market for yoga pants? The price of…

A: The demand curve for a good shows the quantity demanded of that good at various price levels. When…

Q: Bicycles are made out of steel. If the price of steel increases, there is a shift in the supply…

A: Bicycles are made out of steel, which means steel is a factor of production of Bicycle. So, change…

Q: . When supply of a commodity increases without change in price, it is called

A: Supply of a commodity is related to the price of a commodity directly, but also depends on several…

Q: Explain why you think that the demand of one product may diminish as prices are increased

A: As per Law of Demand, the demand of any good decreases with increase in price given other…

Q: Which of the following causes the demand curve to shift? A change in the price of inputs Technology…

A: Demand curve show the relationship between quantity demanded and price. According to the law of…

Q: movie tickets and film streaming services are substitutes. If the price of film streaming increases.…

A: Market demand for a commodity changes with a change in consumer income, tastes and preferences,…

Q: then the demand curve for the commodity will be

A: Demand curve shows various combinations of price and quantity demanded. Shape of the demand curve…

Q: If new substitutes are developed for a product, what will likely happen to the demand curve for that…

A: The price elasticity of demand measures the responsiveness of the quantity demanded of a good or…

Q: Which of the following decreases the production of computers and the supply curve shifts left?…

A: Supply curve shows a positive relationship between price and quantity supplied. Increase in price…

Q: explain the inportance of demand analysis to business

A: Analysis of demand means acknowledging the demand of consumers in a given market for a product or…

Q: If electric cars and solar panels are complementary goods, an increase in the price of solar panels…

A: Goods which are consumed together are complementary goods.

Q: Which of the following would you expect to displace the demand for beef? Response option group (a)…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: An increase in the price of jet fuel will ________ air flights and the equilibrium quantity of air…

A: Answer to the question is  as follows:

Q: If bread and butter are complements then what will happen if there is an increase in the price of…

A:

Q: If the price of beef rises significantly, what will happen in the market for fast-food hamburgers…

A: Beef is one the important input that is used for producing fast-food hamburgers; therefore, as the…

Q: What is the type of good if demand increased from 25 to 37 as income increased from 1,500 to 2,000…

A: A good is considered to be normal if the income elasticity is greater than 0. For normal goods,…

Q: Which of the following would shift the supply curve for a commodity to the right? An increase in the…

A: Answer for Q#1 A market supply curve shows various combinations of price and quantity supplied.…

Q: Consider the market for pizza in Starkville. Which of the following will shift the demand curve for…

A: Demand for a good represents the quantity of the good that the consumers are willing to buy at a…

Q: If two commodities are substitutes, a change in the price of the one, ceteris paribus, cause a…

A: Substitute goods refer to the goods that can be replaced by other goods as they serve some purpose…

Q: The prices of the Ralph Lauren Polo line of clothing are considerably higher than comparable quality…

A: Law of Demand shows the inverse relationship between price of a good and the quantity demanded of it…

Q: Motorcycles and bicycles are substitutes under demand. The following questions relate to the bicycle…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Q: Which of the following would NOT shift the supply curve of laptops to the right: * A.an advancement…

A: The number of laptops produced by the firms in the market to sell the laptops is called the supply…

Q: If new substitutes are developed for a product, what will likely happen to the demand curve for that…

A: An increase or decrease in the price of substitute goods directly affects the demand for a given…

Q: Assume that the price of product X rises by 13 percent and the quantity supplied of X rises by 15…

A: The markets are the place where the buyers of various goods and services tend to meet and interact…

Q: When demand of a commodity is greater than its supply at a given price then it is known as

A: # In a market the market equilibrium occurs at the point where the demand and the supply are equal.…

Q: If the demand curve for a good is a vertical line at Q = 1, then a decrease in the price of that…

A: Demand curve represent the quantity demanded in the graphical format.

Q: Which of the following might lead to an increase in the equilibrium price of hot dogs and a decrease…

A: At Equilibrium Price, Quantity Demanded is equal to Quantity Supplied.  Option 1 is wrong. With the…

Q: Which of the following might lead to an increase in the equilibrium price of jelly and a decrease in…

A: Equilibrium in the market occurs where quantity demanded equals quantity supplied.

Q: The fresh fruit market and frozen dinner market are currently in equilibrium. Fresh fruit is a…

A: A normal good is also known as a necessary good. These are the goods that have higher demand when…

Q: If two goods are substitutes, a decline in the price of one will cause an increase in the demand for…

A: There are different types of goods based on their use, consumer preference & taste, and…