Consider the market for cream cheese. Suppose the price of b…
Consider the market for cream cheese. Suppose the price of bagels (a complement to cream cheese) falls. Simultaneously, the price of milk (an input into cream cheese) falls. What would you predict will happen to the equilibrium price of cream cheese? To the equilibrium quantity of cream cheese? Explain and draw diagrams to support your answer. Leave the field below blank. Score will be based on the photo / pdf of your work.