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Archy [21]
3 years ago
6

Assume that tea and lemons are complements and that coffee and tea are substitutes. An effective price ceiling on coffee would c

ause the _____ curve for lemons to shift _____. Hint: You will need to take a minute to think through this question. You can do it! Think about what is happening in all 3 markets (tea, lemons, coffee). Also, consider how much of each item is actually being exchanged.
Business
1 answer:
givi [52]3 years ago
3 0

Answer:

An effective price ceiling on coffee would cause the demand curve for lemons to shift to the left.

Explanation:

An effective price ceiling results in lower prices, increased demand, and shortages. Since tea and lemons are complement, a decrease in the price of coffee (substitute of tea) would result in a decrease in the demand for lemons (complement of tea). This means that the demand curve for lemons will shift to the left.

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