People like consuming peanut butter and jelly together. The price of peanuts increases. At the same time, we see the price for Jelly rise. This would make the price for peanut butter_____________ and the quantity demanded for peanut butter ____________
a. Uncertain; decreases
b. Decreases; increases
c. Decreases; uncertain
d. Increases; uncertain
a
Economics
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Joe's income is $500, the price of food (F) is $2, and the price of shelter (S) is $100. Which of the following bundles is in Joe's opportunity set?
A) 50 units of food, five units of shelter B) 200 units of food, two units of shelter C) 100 units of food, one unit of shelter D) 150 units of food, three units of shelter
Economics
Refer to Figure 4-20. The equilibrium price in the market before the tax is imposed is
a. $8.
b. $6.
c. $5.
d. $3.
Economics