Question
Read the following scenario and answer the questions that follow. a recent article entitled Mild Manic made headlines in South Africa. The article explains the
Read the following scenario and answer the questions that follow.
a recent article entitled "Mild Manic" made headlines in South Africa. The article explains the significant health benefits of consuming one glass of milk per day. In only seven days you will become stronger and smarter, but milk supercharges your immune system. The scientist further found that consuming a glass of milk a day as a cure for high blood pressure, anxiety and insomnia.
Questions
- By the aid of a graph, illustrate and explain how the research article will affect the equilibrium price and quantity in the market.
- The impact of price changes in related products (substitutes and complements) can lead to the same outcome as the news article - the same results as Question 1.
2.1. To reach the same result as (Q1). Specify the required price change for Cremora. Justify your answer.
2.2. To reach the same result s (Q2). Specify the required price change for Nesquik. Justify your answer.
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