ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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: -For example, if the price of hamburgers increases, hamburgers will seem more expensive, so consumers will demand fewer hamburgers at that price. This change will only affect quantity demanded at that price, not at all possible prices of hamburgers.)

Detailed explanation-3: -Demand for hamburgers rises when the price of a substitute good (such as hot dogs) rises. This is evident by the fact that buyers purchase substitute goods at a lower cost. When the price of one good rises, so does the demand for all the others.

Detailed explanation-4: -The given statement is False. Therefore, the demand for hamburgers would fall and that for hot dogs would rise. So the demand curve for hot dogs would shift to the right. So a change in hamburger’s prices would shift the demand curve for hot dogs but would not affect the supply curve of hot dogs.