Question: Each entry below lists two goods. In each case, i) state if the goods are complements or substitutes, and ii) use a supply/demand graph to
Each entry below lists two goods. In each case, i) state if the goods are complements or substitutes, and ii) use a supply/demand graph to show how the market for the first good is affected by the change listed.
a) Flights from Chicago to Miami and jet fuel. The price of jet fuel increases.
b) Covid vaccines and N-95 masks. The price of N-95 masks rises significantly.
c) Airbus A350 and Boeing 787 jets. The batteries in Boeing 787s are subject to a recall.
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