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Hotdogs and ketchup are often eaten together. Hence, they are complements. In the market forhot dogs, the following was observed.It was observed that both the
- Hotdogs and ketchup are often eaten together. Hence, they are complements. In the market forhot dogs, the following was observed.It was observed that both the equilibrium price of hot dogs and the equilibrium quantity of hot dogs have decreased. What could be responsible for this pattern? A decrease in the price of ground meat or an increase in the price of tomatoes or both? Illustrate and explain your answer with the help of a well labeled graph.
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