00:01
Hello students we are given a question we are given that ketchup is a complement for the hot dogs okay and if the price of hot dogs rises then the market of what happens in the market of particular ketchup tomato tomato juice and orange juice we need to first of all we will go with the ketchup okay first of all we are given that the ketchup is a pure complement for hot dogs okay so basically when the hot dog price okay students hot dog price goes up it means the price of hot dog rises automatically the quantity of quantity demanded of the hot dogs will be go down okay demand will be go down or can we said as less demand will be less so basically the demand of ketchup will be also low okay catch up demand will be also low it means it means the equilibrium price of the ketchup and the quantity of ketchup will go down.
01:06
So finally we can say that equilibrium, sorry, equilibrium.
01:14
Okay, we will write here equilibrium price and as well as quantity.
01:24
Okay, both will go down or go lower.
01:29
And finally, because the quantity of ketchup falls, okay? it means the demand of the tomatoes by the ketchup producers obviously will go fall okay because as the price and the as the equivalent price and the quantity of the given ketchup is going down it means the demand okay students we will go to the second part the demand for tomatoes for tomatoes by ketchup producer producers of ketchup.
02:09
Will automatically fall.
02:11
Go down.
02:12
Can be said as go down.
02:15
Okay? so basically, we can say that the equilibrium price and the quantity of tomato will also go down.
02:22
Equilibrium price.
02:27
Equilibrium price and quantity...