Business, 01.02.2021 20:40 smithad382

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 .

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