We observe both the price and quantity sold of ketchup falls over time. assuming all else stayed the same, this is due to:

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11-10-2017
Business

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We observe both the price and quantity sold of ketchup falls over time. assuming all else stayed the same, this is due to:

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ahmedishaal ahmedishaal · Answer 1 · 2017-10-18T14:13:28+02:00

ahmedishaal ahmedishaal

18-10-2017

The reason behind the falling of price and quantity of ketchup sold is that the cost of mustard seeds decreases as mustard is a substitute of ketchup and for the input mustard seeds are produced. So, if the price of mustard seed decreases, the price of ketchup also decreases.

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