Pizza and hamburgers are substitutes for consumers. A fall in the price of a pizza ________ the price of a hamburger and ________ the quantity of hamburgers.

Question

Quizplus · Accepted Answer

When the price of a pizza falls, consumers are more likely to buy pizza instead of hamburgers, leading to a decrease in demand for hamburgers. This decreased demand for hamburgers can lead to a lower price and quantity of hamburgers sold.

Pizza and Hamburgers Are Substitutes for Consumers