### Explain mustard and mayonnaise are substitutes

Assignment Help Business Economics
##### Reference no: EM135527

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.

As a result of the recall, you would expect that

1. the supply of mustard would decrease, the price of mustard would increase, and the demand for mustard would decrease.

2. the price of mustard would increase, the supply of mustard would increase, and the quantity demanded of mustard would decrease.

3. the supply of mustard would decrease, the price of mustard would increase, and the quantity demanded of mustard would decrease.

4. the price of mustard would increase and both the quantity of mustard supplied and the quantity of mustard demanded would increase.

#### Questions Cloud

 Which of the follow is not a function of meiosis : Which of the follow is NOT a function of meiosis. Generation of genetic diversity by crossing over. Recognizes true statements of cholesterol and its fluidity : Recognizes true statements of cholesterol and its fluidity. Cholesterol increases membrane fluidity that otherwise contains mainly long chain saturated fatty acids. Explain natural rate hypothesis are all related : Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related. What would occur to the preferred habitat of your plant : What would occur to the preferred habitat of your plant (Red Maple) in case of partial water drainage of the Mer bleue marsh (such as the water level would go down half the depth of the marsh). Explain mustard and mayonnaise are substitutes : 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. Calculate the constant debt-gdp ratio : Calculate the constant debt-GDP ratio that the country can achieve if the country runs a primary budget deficit of 3%. Is this debt-GDP ratio stable. Which phase of the ethical decision-making framework : Frank found himself in the midst of an ethical dilemma at work, and was using an ethical decision-making matrix, to address his work and personal values. Frank was most likely in which phase of the Ethical Decision-Making Framework. What is rate of economic profit : If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit Mutagens are generally not carcinogens : Which of the follow statements regarding cancer risk factors is false. Mutagens are generally not carcinogens.

### Write a Review

#### Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

#### Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

#### Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

#### Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

#### Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

#### Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

#### Tax revenue

The Australian government administers two programs that affect the market for cigarettes

#### Maximize total welfare

How many tickets to sell to maximize total welfare.

#### Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

#### Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

#### What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

#### Calculate gross national product and net national product

Calculate gross national product and net national product

#### Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd