For consumers,pizza and hamburgers are substitutes.A rise in the price of a pizza causes a _____ in the equilibrium price of a hamburger and a(n)_____ in the equilibrium quantity of hamburgers.

Question

Quizplus · Accepted Answer

When the price of pizza increases, consumers will shift their demand to hamburgers as a substitute, leading to a rise in the equilibrium price and an increase in the equilibrium quantity of hamburgers.

For Consumers,pizza and Hamburgers Are Substitutes