Question: 1) Explain why the following statement is false: In the goods market, no seller would be willing to sell for less than the equilibrium price.

1) Explain why the following statement is false: "In the goods market, no seller would be willing to sell for less than the equilibrium price."

2) Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs) increases and the price of a complement good (for example, hamburger buns) increases, can you tell for sure what will happen to the demand for hamburgers? Why or why not? Illustrate your answer with a graph.

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