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The accompanying supply and demand graph represents a hypothetical market for spaghetti pasta. Demonstrate how an increase in the price of penne, a different type of pasta, and a decrease in the price of meatballs will affect the supply and demand of spaghetti pasta. Assume that producers of spaghetti pasta do not also produce penne.

Sagot :

As a result of an increase in the price of penne and  decrease in the price of meatball, the demand curve would shift rightward.

What is the impact of an increase in the price of penne?

Spaghetti pasta and penne are substitute goods. Substitute goods are goods that can be used in place of other goods. When the price of penne increase, there would be an increase in the demand for spaghetti pasta. As a result, the demand curve would shift to the right while the supply curve remains unchanged.

When the price of meatball increase, there would be an increase in the demand for spaghetti pasta. As a result, the demand curve would shift to the right while the supply curve remains unchanged. This is because meatballs and spaghetti pasta are complements.

Please find attached the required graph. For more information about the change in demand, please check: https://brainly.com/question/25871620

View image ewomazinoade
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