4. Celery leaves and basil are substitutes in making chicken noodle soups. A drought destroyed a good portion of local basil supply, ceteris paribus, we have A. the price of both celery and basil will fall. B. the price of both celery and basil will increase. C. the price of celery will increase, and the price of basil will fall. D. the price of celery will fall, and the price of basil will increase.
4. Celery leaves and basil are substitutes in making chicken noodle soups. A drought destroyed a good portion of local basil supply, ceteris paribus, we have A. the price of both celery and basil will fall. B. the price of both celery and basil will increase. C. the price of celery will increase, and the price of basil will fall. D. the price of celery will fall, and the price of basil will increase.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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