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Hotdogs and hotdogs buns are complementary goods. We observe that the equilibrium price of hotdogs has...

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Economics

Hotdogs and hotdogs buns are complementary goods. We observe thatthe equilibrium price of hotdogs has risen, but the equilibriumquantity of hotdogs buns has fallen. What could cause suchassociation – a fall in the price of flour or a fall in the priceof meat? Illustrate and explain your answer.

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Hotdogs and Hotdog buns are complementary goods that is goods consumed together Such goods have negative cross price elasticity of demand that is an increase in price of hotdogs would    See Answer
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