6. Problems and Applications
Q10
Because bagels and cream cheese are often eaten together, they are complements.
Consider the effect of a fall in the price of flour, an input to making bagels.
Homework Answers
answer a) A fall in the price of flour will decrease the input price. it will shift the supply curve to the right. The new equilibrium is at a lower price and higher quantity.
answer b) In the creame and cheese market. it will increase the demand becasue the complement price is decreased. It will shift the demand curve to the right. the new equilibrium will be at a higher price and higher quantity.
Add Answer to:
6. Problems and Applications
Q10
Because bagels and cream cheese are often eaten together, they
are...
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