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1. If the price of Peanut Butterfalls, and consumers see Peanut Butter and Jelly as complements, what happens in the market for Jelly? Panel A:Demand

1. If the price of Peanut Butterfalls, and consumers see Peanut Butter and Jelly as complements, what happens in the market for Jelly?

Panel A:Demand will Increase, causing the price to rise and the equilibrium quantity to rise

Panel B:Demand will Decrease, causing the price to fall and the equilibrium quantity to fall

Panel C:Supply will Increase, causing the price to fall and the equilibrium quantity to rise

Panel D:Supply will Decrease, causing the price to rise and the equilibrium quantity to fall

2.If the price of Corn rises, and farmers see Corn and Soybeans as substitutes in production, what happens in the market for Soybeans?

Panel A:Demand will Increase, causing the price to rise and the equilibrium quantity to rise

Panel B:Demand will Decrease, causing the price to fall and the equilibrium quantity to fall

Panel C:Supply will Increase, causing the price to fall and the equilibrium quantity to rise

Panel D:Supply will Decrease, causing the price to rise and the equilibrium quantity to fall

If the price of Peanut Butterrises, and consumers see Peanut Butter and Jelly as complements, what happens in the market for Jelly?

Panel A:Demand will Increase, causing the price to rise and the equilibrium quantity to rise

Panel B:Demand will Decrease, causing the price to fall and the equilibrium quantity to fall

Panel C:Supply will Increase, causing the price to fall and the equilibrium quantity to rise

Panel D:Supply will Decrease, causing the price to rise and the equilibrium quantity to fall

Panel (a) Panel (b) An increase in demand A decrease in demand D2 D1 Quantity Quantity Panel (c) Panel (d) An increase in supply A decrease in supply S 151 S $2 D1 Quantity Quantity

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