The price of gummy bears, a close substitute for jelly beans, increases. 3. According to the event above, which graph represents what will happen in the market for jelly beans? Jelly Beans Jelly Beans Jelly Beans S D D₁ Q - D₁ D PI S S₁ Jelly Beans A B What will happen to the quantity in the market? a. Increase b. Decrease c. Stay the same S₁ S D

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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The price of gummy bears, a close
substitute for jelly beans, increases.
3. According to the event above, which graph represents
what will happen in the market for jelly beans?
Jelly Beans
Jelly Beans
Jelly Beans
S
S
D₁
P
D₁
D
0
D
S₁
Jelly Beans
A
B
What will happen to the quantity in the market?
a. Increase
b. Decrease
c. Stay the same
Q
S₁ S
D
Transcribed Image Text:The price of gummy bears, a close substitute for jelly beans, increases. 3. According to the event above, which graph represents what will happen in the market for jelly beans? Jelly Beans Jelly Beans Jelly Beans S S D₁ P D₁ D 0 D S₁ Jelly Beans A B What will happen to the quantity in the market? a. Increase b. Decrease c. Stay the same Q S₁ S D
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