PepsiPepsi and CokeCoke are considered to be substitutesubstitute goods.
Use the line drawing tool to show how an increasean increase in the price of PepsiPepsi affects the demand for CokeCoke. Label this new line 'D2'.
Want to see the full answer?
Check out a sample Q&A here
Related Economics Q&A
Find answers to questions asked by students like you.
Q: Suppose that many people like to wear CoC shorts with COC t-shirts as a matching set. Now, suppose…
A: As given that many people like to wear Coc shorts with Coc t-shirts as a matching set. So CoC Shorts…
Q: Does an in income always shift income demand carves (for goods) to the right? why or why not?
A: To determine the impact of a change in income on the demand curve.
Q: For each of the following pairs of goods, identify if they are substitutes or complements and use a…
A: Answer to the question is as follows:
Q: What is the information does the point of intersection between demand and supply curve convey?
A: In a free market i.e. without any government intervention (laissez-faire state), the forces of…
Q: Explain whether each of the following statements describes a change in demand or a change in…
A: There are various determinants that affect the demand for the good. Non-price determinants lead to a…
Q: Besides the price of substitutes and complement other determinant of demand include
A: Demand: It means the desire and ability of consumers to purchase a good or service.
Q: Oil is a main component in the manufacture of plastic bags. If the price of oil were to increase,…
A: In a market, any change in the price of input resources will have significant impact on its market…
Q: Explain the difference between a change in supply and a change in quantity supplied. What causes…
A: Supply is defined as the amount of a good or service that the suppliers are able and willing to…
Q: Illustrate the appropriate change and specify whether each change represents an increase or a…
A: Given:- Price of chicken rise, Consumers choose to purchase beef instead To know:- Appropriate…
Q: What happens to the price and quantity of bagged salad when the price of salad dressing decreases?…
A: Complementary goods are the goods that adds value to one another and they cannot be used without one…
Q: And then I need to know what happened to the change in equilibruim price when the magnitude of the…
A: A rightward(leftward) shift in a demand curve essentially represents an increase(decrease) in…
Q: If we observe that the equilibrium price of eggs increased from $1.70 to S1.80 from April to May…
A: Answer: Here the increase in price has caused the decrease in the equilibrium quantity of eggs. It…
Q: What are the demand schedule and the demand curve and how they are related? Why does the demand…
A: Law of demand states that there is a negative relation between price of a good and its quantity…
Q: Consider the market for beef, if there is an increase in the price of chicken and an increase in the…
A: Chicken and beef are substitute goods. Increase in price of chicken would shift the demand curve of…
Q: Are coffee and tea Substitute goods or compliment goods? Why?
A: # Goods which can be used on place of each other are said to be as substitute goods and the goods…
Q: b)The condominium prices do not change largely regionally across Japan (according to table below)
A: Growing population needs more place to stay and to deal with that problem multi-storied building are…
Q: Consider the following events:a. The price of cell phones goes down by 25 percent during a sale.b.…
A: A shift in the demand curve is defined when there is a change in demand; when the price of quantity…
Q: Which of the following will NOT cause a shift in the demand for DVDS? O A change in taste O A change…
A: Answer to the question is as follows:
Q: If a 10% decrease in the price of one product thatyou buy causes an 8% increase in quantity…
A: Elasticity shows the responsiveness of quantity demanded due to the change in the price of a…
Q: Q.2.2 Butter and margarine are substitutes in consumption. Explain how a decrease in the price of…
A: The goods which can be used in place of each other to satisfy a want are substitute goods and the…
Q: Assume skateboards and rollerblades are substitute goods in consumption. If the cost of skateboard…
A: Substitute goods are those goods whose elasticity is positive.
Q: Draw the graphs and explain the factors that cause the movement along the demand curve and shifts of…
A: Demand curve shows the relationship between the price and the quantity demanded. It’s a downward…
Q: Smartphones and Apps can be considered Therefore, as the prices the demand for of Apps smartphones O…
A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…
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: The following graph shows the market for cars in 2007. Between 2007 and 2008, the equilibrium price…
A: here we can change in the demand and supply curve of the car which are as follow-
Q: As Sandi's income rises, her demand for popcorn rises. As Mark's income falls, his demand for…
A: In an economy there exist certain types of goods that individuals consume based on their income,…
Q: If a decrease in the price of laptops causes thedemand for cell phones to increase, are laptops…
A: The quantity of a product that the consumer decides to purchase can increase or decrease with the…
Q: The relationship between quantity supplied and the price is and the relationship between quantity…
A: The Law of demand is that when other things are constant an increase in price decreases quantity…
Q: What happens to the equilibrium price andquantity of ice cream in response to each of the following?…
A: The point at where a product's cost and demand intersect, resulting in a price compromise, is known…
Q: In what direction will shift the demand curve for sun-protect cream in the winter season? Draw the…
A: Sun protected creams are used to apply on skin so that skin can be protected from harmful rays of…
Q: State whether each of the following events will result in a movement along the demand curve for…
A: a) McDonald's Big Mac hamburger is a substitute to Burger King's Cheeseburger. For substitute goods,…
Q: Make a graph to illustrate the effects of the following events on the demand curve and explain, and…
A: The entire demand curve for a commodity would shift with a change in consumer income, taste and…
Q: State and explain with suitable diagrams of the law of demand. What are the reasons for the downward…
A: The Law of demand explains the inverse or negative relationship between quantity demand for a good…
Q: The change on the graph above is most likely the result of O a new technology decrease in consumer…
A: Correct : increase in the price of a substitute
Q: EP Qp and Qs are quantity demanded and supplied of perfume, res t is the equilibrium price and…
A: Whenever the worth of elasticity is more prominent than 1.0, it proposes that the demand for a long…
Q: 11. People view cell phone and its charger as complements to one another. If the price of cell phone…
A: 11. We have to found complementary goods.
Q: urve to sh
A: The relationship between price charged and quantity being demanded is known as the demand curve.
Q: QUESTION 11 Jennifer, an accountant, is promoted at the company she works for. Therefore, her salary…
A: Click to see the answer
Q: A supply and demand puzzle e following graph shows the market for laptops in 2010. Between 2010 and…
A: The demand curve is a graphical representation of the negative relationship between the price and…
Q: According to the law of demand, what is the relationship between price and quantity demanded? O no…
A: “Since you have posted a question with multiple parts, we will solve only the first parts for you.…
Q: The law of supply implies that if nothing eise changes, there is . Oa inear relationship between…
A: In economics, the problem of scarcity which is universal in nature is studied and addressed. Because…
Q: 10. Based on the following circumstances, will there be an increase in demand for jelly-filled…
A: Since multiple sub-parts are asked here, we will answer the first three parts for you. If you want…
Q: Last year, we saw the Pe of a product increase, while the Qe declined. What could have caused that…
A: Click to see the answer
Q: Directions: Analyze and compute problems. Write your answer on the answer sheet pro 1. An individual…
A: As per the guidelines, answer is provided to the first 3 sub-parts. "Demand in economics is a…
Q: What is the difference between Movement along Demand Curve and Shift in Demand Curve?
A: The demand curve is the graph that illustrates the relationship between the price of the commodity…
Q: State whether each of the following events will result in a movement along the demand curve for…
A: Substitute goods, like tea and coffee, are the types of goods which can be used by the same customer…
Q: A) With reference to two different determinants of demand, explain why the demand for Levis jeans…
A: A) Demand for services and goods is explained as the willingness(ability) to purchase by the…
Q: /hen the demand curve and supply curve shift in the directions indicated on this graph, you can be…
A: The following problem has been answered as follows:
