Consider the markets for Ramen noodles and pizza in college town.Assume there is a decline in...

Consider the markets for Ramen noodles and pizza in college town.Assume there is a decline in the price of flour, an important output in the manufacture of pizzas. Using appropriate diagrams,explain the effects of this change in the price of an input on the markets for pizza and ramen noodles. State what happens to the demand,supply, equilibrium price and equilibrium quantity exchanged in each market and why. Draw diagram

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Rahul Sunny answered 1 year ago

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