Explain mustard and mayonnaise are substitutes

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Reference no: EM135527

Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.

As a result of the recall, you would expect that

1. the supply of mustard would decrease, the price of mustard would increase, and the demand for mustard would decrease.

2. the price of mustard would increase, the supply of mustard would increase, and the quantity demanded of mustard would decrease.

3. the supply of mustard would decrease, the price of mustard would increase, and the quantity demanded of mustard would decrease.

4. the price of mustard would increase and both the quantity of mustard supplied and the quantity of mustard demanded would increase.

Reference no: EM135527

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