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90daytona 90daytona
wrote...
Posts: 73
Rep: 1 0
6 years ago
Suppose that whenever the price of bread increases, we observe that the demand for blueberry
jam decreases and the demand for bagels increases. Given this information and holding
everything else constant, which of the following statements are correct?

a) Bread and blueberry jam are complements; bread and bagels are substitutes.
b) Bread and bagels are complements; bread and blueberry jam are substitutes.
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Replies
wrote...
Staff Member
6 years ago
a) Bread and blueberry jam are complements; bread and bagels are substitutes.
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