ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increase because hamburgers and onions are substitutes
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increase because hamburgers and onions are complements
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decrease because hamburgers and onions are substitutes
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decrease because hamburgers and onions are complements
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Detailed explanation-1: -Hamburgers and burger burns are complementary goods. For complement goods, an increase in the price of one decreases the demand for the other. Thus, an increase in the price of hamburgers will decrease the demand for burger buns.
Detailed explanation-2: -Answer and Explanation: A change in the price of hamburgers is what we call a movement along the demand curve, and not a shift. A change in price simply moves us from one point on the existing demand curve to another and doesn’t affect quantity demanded at each price.
Detailed explanation-3: -The increased price of raw material will increase the price of the commodity which in turns shifts its demand curve.
Detailed explanation-4: -The correct answer to the given question is option B. The price of hamburgers. The demand curve for hamburgers shows the relationship between its quantity demanded and various price levels.