Refer to Scenario 3.3 below to answer the question(s) that follow.
SCENARIO 3.3: Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
Refer to Scenario 3.3. As a result of the recall, you would expect that
◦ the supply of mustard would decrease, the price of mustard would increase, and the demand for mustard would decrease.
◦ the price of mustard would increase, the supply of mustard would increase, and the quantity demanded of mustard would decrease.
◦ the supply of mustard would decrease, the price of mustard would increase, and the quantity demanded of mustard would decrease.
◦ the price of mustard would increase and both the quantity of mustard supplied and the quantity of mustard demanded would increase.
Question continued
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