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Author Question: Refer to Scenario 3.3 below to answer the question(s) that follow. SCENARIO 3.3: Mustard and ... (Read 181 times)

Bob-Dole

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on: Apr 19, 2019

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. If at the same time of the mustard recall, consumer income also decreased. Then, 
ceteris paribus, in the market for mustard this would have caused


◦ both the equilibrium price and quantity to decrease.
◦ the equilibrium price to increase and the equilibrium quantity to decrease.
◦ the equilibrium price to either increase, decrease, or remain the same and the equilibrium quantity to decrease.
◦ the equilibrium quantity could have increased, decreased, or remained the same and the equilibrium price to decrease.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Bob-Dole on Apr 19, 2019

vseab

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Bob-Dole

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

xiaomengxian

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Reply 3 on: Yesterday
Wow, this really help

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