Show graphically (in two separate graphs) the effects of an increase in the price of peanut butter on the demand for peanut butter and on the demand for jelly.
2007-02-22 17:37:41 · 3 answers · asked by wani mira 1 in Social Science ➔ Economics
I'm sorry but this site doesn't allow graphics, graphs etc.
2007-02-22 17:46:41 · answer #1 · answered by ? 6 · 1⤊ 0⤋
A rise in peanut will cause the demand curve to shift leftward (reduction in desire for peanut butter) and results in a leftward shift in the demand for jelly as well = if the two product are complimentary.
Complimentary - one effect will have the same effect on the other.
Unless, jelly is a substitute and not a compliment, then, jelly demand will shift rightward as more people switch to jelly from peanut butter
2007-02-23 02:00:55 · answer #2 · answered by chilledguy27 4 · 0⤊ 0⤋
Was that your home work for the weekend?
2007-02-23 02:00:24 · answer #3 · answered by Troy Girl 5 · 0⤊ 0⤋