Note: Please rewrite it. it is an economics question but having 100% plagiarism please rewrite and remove plagiarism

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1. TRUE.

Explanation

There is more increases in total surplus when the demand more elastic so hence greater- gain is realizing by the trades

2. FALSE

Explanation:

The total-surplus is increasing or increases even whenever the curve of demand is perfectly-inelastic,

3. FALSE

Explanation:

They (consumers) do benefits from trade even whenever the demand being perfectly-inelastics as the surplus of consumer increases.

2.

It is known from the fact that hot dogs and ketchup are complimentary goods. In case of complimentary goods, an increase in price of one commodity leads to fall in the quantity demanded of the other commodity.

In this case as the price of hot dogs rise, the quantity demanded of ketchup falls. The equilibrium price and quantity of ketchup falls.

Now because of fall in quantity pf ketchup, the producer of ketchup demands less of tomatoes (an important input in the production of ketchup) thus, both the price and the quantity of tomato falls.

But tomato is also a major input used in the production of tomato juice. As the price of tomato falls, the producer of tomato juice increased its production because the input price is lower and profitable. Thus, the supple of the tomato juice increases leading to fall in the price of tomato juice and increase in quantity of tomato juice

Since tomato juice and orange are substitute goods. Substitute goods are those which are used in place of each other leaving the consumer indifferent or leaving them with the same level of Utility. Now, as the price of the tomato juice falls, the quantity of orange juice falls.

Thus, on a concluding note, Rise in price of hot dogs leads to fall in price and quantity of orange juice.

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Question: Please rewrite it. it is an economics question but having 100% plagiarism please rewrite and remove plagiarism

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Note: Please rewrite it. it is an economics question but having 100% plagiarism please rewrite and remove plagiarism