Answer to Question #195575 in Microeconomics for belinda

Question #195575

In the market for sugar, there is an increase in the number of households in the market, at the same time there is an increase in the price of molasses(a substitute for sugar), use a graph to illustrate and explain the impact of these changes on the equilibrium price and equilibrium quantity of sugar.

Expert's answer

A change in the price of molasses to a higher degree in comparison to that of molasses designates a shift in demand of molasses.

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