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m_a_m_a [10]
3 years ago
6

Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, the quantity of hot dogs demanded

____________, which _________ the demand for ketchup. Because of the change in the equilibrium quantity of ketchup, the demand for tomatoes by ketchup producers ___________, causing the equilibrium price of tomatoes to___________. This means producers of tomato juice face__________ input prices, and the supply curve for tomato juice ____________). The resulting ____________ in the price of tomato juice causes people to substitute (away from tomato juice and toward orange juice/away from orange juice and toward tomato juice), so the demand for orange juice ________.
Business
1 answer:
Kobotan [32]3 years ago
3 0

Answer:

Falls; lowers; falls; decrease; lower; increases; fall; away from orange juice and toward; fall.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

Generally, consumers would like to be buy a product as its price falls or become inexpensive.

For substitute or complement products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.

In this scenario, Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, the quantity of hot dogs demanded falls, which lowers the demand for ketchup. Because of the change in the equilibrium quantity of ketchup, the demand for tomatoes by ketchup producers falls, causing the equilibrium price of tomatoes to decrease. This means producers of tomato juice face lower input prices, and the supply curve for tomato juice increases. The resulting fall in the price of tomato juice causes people to substitute away from orange juice and toward tomato juice, so the demand for orange juice falls.

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Assume that a consumer has a given budget or income of $24 and that she can buy only two goods, apples or bananas. The price of
Sindrei [870]

Answer:

12 bananas or 8 apples are needed to purchased

Explanation:

The computation of the number of bananas or the apples is shown below:

Since the income is $24

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So, the number of bananas is

= $24 ÷ $2

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And, the number of apples is

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= 8 apples

Therefore 12 bananas or 8 apples are need to purchased

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3 years ago
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Answer:

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7 0
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Which loan type requires you to make loan payments while you’re attending school?
FrozenT [24]
I think the correct answer from the choices listed above is option A. The loan type that  requires you to make loan payments while you’re attending school would be unsubsidized federal loan. For this type, y<span>ou are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. Hope this answers the question.</span>
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lbvjy [14]

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3 years ago
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