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March 25, 2017

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Question:
Can you please check whether or not my answer is correct? If not, can you please correct it?

Scenario:
The market for peanut butter in New York where over 1 million stores that sell peanut butter at any given amount. Suppose the price of bread increases (Assume that people regard peanut butter and bread as complements). If this scenario is to be graphed, would the supply curve and/or demand curve shift to the left or right?

My answer:
Only the demand curve shifts to the left. The supply curve is not affected because it deals with complements.

  • Basic: Demand and Supply - ,

    correct.

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