Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Discover the answers you need from a community of experts ready to help you with their knowledge and experience in various fields. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

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
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.