Question

Pizza and hamburger are substitute for consumers. A fall in the price of pizza....the price of hamburger.....and the quantity of hamburger

Answer 1

Answer:

for consumers, pizza and hamburgers are substitutes. A rise in the price of a pizza causes ____ in the price of a hamburger and ____ in the quantity of hamburgers. Quantity demandedPrice(bags per month)(per bag)GeorgeBarbaraDan$0.90100 60 $0.801510 80 $0.702020 100 $0.602530 120 $0.503040 140 $0.403550 160 $0.30 4060 180 Reference: Ref 3-1(Table: The Demand for Chocolate-Covered Peanuts) If Barbara is only able to purchase 20 bags of chocolate-covered peanuts, the maximum price she is willing and able to pay for each bag is ________. An increase in demand, with nochange in supply, will lead to ________ in equilibrium quantity and ________ in equilibrium price. Which of the following will NOT cause an increase in demand for good X? X Over the past several years, consumer tastes for tattoos have increased. This means that the __________ for tattoos has ___________.

Answer 2

Answer:

lower the price and decrease quantity if hamburger because .. substitute goods have direct relationship