工作,职务:微观经济学

Because bread and butter are usually eaten together, they are complements. Flour is
an input in the production of bread and milk is an input in the production of butter.
Consider perfectly competitive markets for bread and butter.
(a) It is observed that the equilibrium price of butter has increased and that the
equilibrium quantity of bread has increased. Explain whether either of the
following is a possible explanation.
(i) the price of milk has decreased
(ii) the price of flour has decreased
(b) It is observed that the equilibrium price of butter has increased and that the
equilibrium quantity of bread has decreased. Explain whether either of the
following is a possible explanation.
(i) the price of milk has increased
(ii) the price of flour has increased
(c) It is observed that the equilibrium price of butter has increased. Assuming
perfectly competitive markets evaluate the claim that the price of a
substitute such as margarine will also increase.