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Answer to Question #278935 in Microeconomics for Alexandra Oprea

Question #278935

Ketchup is a complement for hot dogs. If the price of hot dog rises, what happens in the market for ketchup?


1
Expert's answer
2021-12-13T11:26:41-0500

Since ketchup is a complement for hot dogs, when the price of hot dogs rises, the quantity demanded of hot dogs falls, thus reducing the demand for ketchup, causing both price and quantity of ketchup to fall.


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