french horns and trumpets are substitutes in production. if the price of trumpets rises how will this affect equilibrium in the market for french horns?

To understand how an increase in the price of trumpets affects the equilibrium in the market for French horns, we need to analyze the relationship between these two goods as substitutes in production.

When two goods are substitutes in production, it means that they can be used interchangeably in the production process. In this case, French horns and trumpets are considered substitutes.

Now, if the price of trumpets increases, it will lead to several effects on the market for French horns:

1. Increase in Demand for French Horns: Due to the increase in the price of trumpets, producers who were using trumpets as a substitute will now switch to using French horns to produce their goods. As a result, the demand for French horns will increase as more producers switch to it.

2. Increase in Price of French Horns: With the increase in demand, the equilibrium price of French horns will also rise. This is because as more producers switch to French horns, the demand for French horns will surpass the supply, resulting in an upward pressure on prices.

3. Increase in Quantity Produced: Along with the rise in price, the quantity of French horns produced will also increase. This is because producers will increase their output to meet the higher demand resulting from the substitution effect.

Overall, an increase in the price of trumpets will lead to an increase in demand, price, and quantity of French horns in the market. This demonstrates the concept of substitute goods and their impact on market equilibrium.