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1 Suppose that a consumer spends a fixed amount of income per month on the 2 following pairs of 3 goods: 4 a. tortilla chips
1 Suppose that a consumer spends a fixed amount of income per month on the 2 following pairs of 3 goods: 4 a. tortilla chips and salsa 5 b. tortilla chips and potato chips 6 c. movie tickets and gourmet coffee 7 d. travel by bus and travel by subway 8 If the price of one of the goods increases, explain the effect on the 9 quantity demanded of each of the goods. In each pair, which are likely to be complements and which are likely to be substitutes
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