Expert can you please

Dear student,
Shoes and socks both are complementary to each other and are used together. Therefore, the increase in shoe price will discourage the demand for socks. Therefore, due to the decrease in demand for socks, the demand curve for socks will shift leftwards parallelly from D1D1 to D2D2. Before the increase in price of shoes the equilibrium price was at Pe. But when price increases and demand for both products decreases and the supply remaining unchanged, at the equilibrium price Pe, there exists excess supply of socks, which reduces the price of socks and the new equilibrium will be at E2, with equilibrium price coming down to P2 and equilibrium quantity q2.



Points to note:
Here D1D1 and D2D2 lines represent demand curves
S1S1 line represents supply curve
Leftward shift of demand curve indicates decrease of demand.
Regards

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