If butter is the product, what happens when the price of magarine goes up?

Q: coke and pepsi are substitute goods. if the price of coke skyrockets, then the demand for pepsi…

A: Two goods are said to be substitute goods when one good can be used in place of other. Price and…

Q: Tomato sauce is a compliment for hot dogs.If the price of hot dogs rises, what happens to the market…

A: Answer: Introduction: Complementary goods are those goods that are consumed together like hot dogs…

Q: If the good is an older used version of the IPhone, .e.g. the IPhone 5 which costs less than $100 on…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: How is Consumer demand for products quite different from demand in the business market?

A: Demand:-  Demand is an economic theory that refers to a person's inclination to buy a product or…

Q: Tomato sauce is a compliment for hot dogs. If the price of hot dogs rises, what happens to the…

A: Since tomato sauce is a compliment for hot dogs they both used together. When the price of hot dogs…

Q: What is diminishing prices?

A: The law of diminishing price is a hypothesis in financial aspects that predicts that after some…

Q: What are the results of “changes in price”? How does this differ from “changes in demand”?

A: The willingness of a consumer to purchase goods and services at a certain price is known as demand.

Q: Why do people purchase more of something when its price falls?

A: Law of demand states that when other things remain the same increasing price leads to reduces the…

Q: What can we expect to occur to hot dog buns if the price of hot dogs were to decrease?

A: Law of demand - If other things remains constant, decrease in price of a good will increase the…

Q: One of the goals of macroeconomics is to understand how the price of a particular good, such as blue…

A: GDP is the final value of goods and services produced in the economy within a given period of time.

Q: Cheese and buns are comements. What will happen if cheese becomes less expensive?

A: Definition of Complementary goods : These are jointly demanded goods.

Q: If the price of a product decreases by 10 percent and the quantity demanded increases by 5 percent…

A: Price Elasticity of Demand measures the percenatge change in quantity demanded due to percentage…

Q: Suppose Pepsi and coke are substitutes. A fall in the price of Pepsi will cause

A: Related goods are of two types:-substitute goods and complements. Substitutes goods are those goods…

Q: Explain how the price of a good (fertilizer) is determined

A: Demand and Supply: Demand is the quantity of a commodity that buyers are willing to buy at given…

Q: If the economy goes into recession and income falls, what happened to inferior goods?

A: Inferior goods: The inferior goods are those goods whose demand increases when consumers’ income…

Q: Part 3 (2 points) O See Hint If the price of chicken falls by 2%, the quantity of beef demanded…

A: Cross-elasticity between beef & chicken = % Change in quantity of beef / % Change in price of…

Q: Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, what…

A: The pairs of goods that are used together are known as complementary goods, therefore if the price…

Q: Does a change in consumers' tastes lead to a movement along the demand curve or to a shift in the…

A: Demand- it is the total amount of good or service that consumer is willing to consume or purchase at…

Q: Give one reason for decrease in supply of a good

A: Decrease in supply depicts change in "supply" and not quantity supplied. The decrease in supply is…

Q: Explain how the equilibrium, or market, the price of a product is examined.

A: Equilibrium is known as the state of balance, the state of rest from where there is no tendency to…

Q: Explain all the reasons why a decrease in a product’s price would lead to an increase in purchases.

A: Demand for a commodity is based on the desire to have that commodity backed by the ability to pay…

Q: What happens in the graph when the price of bottled water rises?

A: The demand curve does not shift when there is a change in quantity demanded because of the change in…

Q: If the price of the good on the vertical axis rises

A: Budget line shift because of change in the level of consumer income. And it become steeper or…

Q: What happens to the price of peaches if consumer income declines?

A: The normal good refers to the good whose demand is positively connected to the level of income.…

Q: What are Substitute goods? Are butter and bread Substitute of each other?

A: # Pairs of goods are either substitute ( Used in place of each other ) or they are complement ( used…

Q: A change in price causes movement along a demand curve and a change in           .................

A: Movement along the demand curve is done when there is a change in the prices of the commodities and…

Q: Which of the below pictures represents an decrease in the price of H? A. T () B H. (#) B. T. (#) (#)…

A: The measure that depicts the quantities being demanded by consumers of a good at various levels of…

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

A:

Q: Explain all the reasons why a decrease in the price of a product would lead to an increase in…

A: The law of demand says that there is an inverse association between the price of a service and…

Q: How does the price of corn affect the supply of wheat?

A: Substitute goods are those goods which can be consumed by the consumer for same purpose. Wheat and…

Q: What happens if the market is not in equilibrium?

A: A market is the collection of buyers and sellers in which they exchange goods and services in terms…

Q: How does the number of sellers in the market increase?

A: A seller is a person or business that trades goods or services in exchange for money. The number of…

Q: Explain how oil plays a role in the price of fertilizer. keep in mind-how oil plays a role in the…

A: Oil plays very important role in current world economy. For production of any good inputs are…

Q: when the price of a good decreases, what happens to the market?  D & Q demanded both increase  D…

A: In the market, any change in price will influence the equilibrium level because it affects the…

Q: What Is a Market?

A: In economics, the word market refers to a single commodity market or a collection of commodities.…

Q: What is the market price?

A:

Q: how does a decrease in price affect the supply and demand curve?

A: Demand: It is an economic principle that indicates the desire of a consumer to buy the commodity at…

Q: Ketchup is a complement as well as a condiment for hot dogs.If the price of hot dogs rises,what…

A: Complementary Goods are defined as those goods that are demanded together. Two goods are considered…

Q: What is supply? What are the factors affecting supply of a commodity?

A: In simple words we can say that supply means the actual amount offered for sale per units of the…

Q: Does the change affect supply? If so, does supply increase or decrease?

A: Supply refers to the total units of output a producer is willing to sell at the existing price…

Q: What components will cause a Shift in the Demand curve?

A: A demand curve undergoes a shift due to following factors: a) Income of buyers: If the income of…

Q: True or False: As the price of apples rises, the demand for apples falls, ceteris paribus.

A: According to the law of demand, there is a negative relationship between the price level of a…