Ketchup is a complement as well as a condiment for hot dogs.If the price of hot dogs rises,what happens in the market for ketchup.For tomatoes?For tomato juice?For orange juice?

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

A:

Q: Suppose rice and pasta are substitute goods in consumption. If new technology that lowers production…

A: The quantity demanded of a good is defined as the amount of the good consumers are willing and able…

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: What is the formula to solve for equilibrium price?

A: In the market price is said to be in equilibrium when the quantity of commodities supplied is equal…

Q: What does a downward-sloping demand curve mean about how buyers in the market will react to a higher…

A: A downward-sloping demand curve means that buyers in the market will decrease the demand and…

Q: What are the influences on buying plans that change demand, and do these influences increase or…

A: The elasticity of demand is the reaction of demand due to change in price of goods and services,…

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 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: 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: Which will not cause a change in the demand for good X?  A) a change in tastes B) a change in income…

A: Answer - Need to find- Which will not cause a change in the demand for good X Evaluating the…

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: The effect of a decrease in the price of food, as depicted in the figure, leads us to believe that:…

A: A Giffen good is non luxury product for which demand decreases as the price decreases and vice…

Q: Explain, with the aid of a graph, the effect of an increase in income on the equilibrium price and…

A: The equilibrium price and quantity of a good in the market are determined by the forces of demand…

Q: ppose that an increase in the price of X goods, leads to a decrease in the demand of good Y This…

A: Suppose there is increase in price of good x and it leads to decrease in demand of good Y then it…

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

A: The price of commodity and demand for complement goods are inversely related. For example, if the…

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: f Cody's demand for grapefruit rises when the price of oranges rises, then for Cody a. Oranges are a…

A: When the cody demand for grapefruit rises with the rise in price of orange represents that the two…

Q: Would you expect supply to play a more significant role in determining the price of a basic…

A: Supply plays a more significant role in determining the price of basic necessity goods. As necessary…

Q: how do I illustrate an increase in a price of an item resulting in consumers buying another item

A: Law of demand says the more of goods is purchased at low price and vice versa keeping other factors…

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: 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: You have just opened a new grocery store. Every item you carry is generic (generic beer, generic…

A: The new store will be carrying generic items, i.e, beer, bread, chicken etc. These products have…

Q: The price of guacamole, a complement for tacos, increases. What happens in the market for tacos?…

A: Complement goods are those goods that are consumed with other goods like bread and butter. they have…

Q: the demand curve is horizontal, what would customers do when price increases?

A: The quantity demanded of the good is defined as the amount of the good the consumers are willing and…

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

A:

Q: Assume that the image shows a demand for orange juice. Which choice would show a decrease in the…

A: The shift in demand curve: The demand curve shifts when the value of determinants of demand such as…

Q: Are beer and pretzels complements or substitutes?

A: Answer:- Yes beer and pretzels are substituted as pretzels are being substituted by relatively…

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: If the price of Pepsi increases, what will happen to the market price of Coke?

A: Suppose two alternate goods can be used for the same purpose, then they are called substitute goods.

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: Make up and example of a monthly demand schedule or pizza, and graph this demand curve, and briefly…

A: The demand curve is a negatively sloped curve which depicts that when the price level of a good…

Q: Explain how the conditions for consumer equilibrium help to support the law of demand. Give an…

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

Q: Sohail’s income declines and as a result, he buys more pumpkin juice. Is pumpkin juice an inferior…

A: As Sohail buys more pumpkin juice as his income declines, here pumpkin juice is an inferior good.…

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: 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: A change in which of the following will not shift the demand curve for hamburgers? Price of hot dogs…

A: The shift in the Demand curve: The shift in the demand curve of a commodity occurs due to the other…