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Jan heads to the store to buy burgers for dinner. Seeing a sale on hot dogs,...

Jan heads to the store to buy burgers for dinner. Seeing a sale on hot dogs, she buys those instead. The change in her demand for burgers is due to which factor?

Preferences

Prices of related goods

Income

Number of buyers

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Hi student,

As per Chegg guidelines, I have answered your questions. Please let me know in case of any query in the comments.

Answer – Jan heads to the store to buy burgers for dinner. Seeing a sale on hot dogs, she buys those instead. The change in her demand for burgers is due to price of related goods (Option B).

This is because hot dogs and burgers are substitute goods for Jan. When Jan sees that there is a sale on hot dogs, then Jan’s demand for hot dog increases because she wants to substitute burgers with a cheaper good – hot dogs. As a result, her demand for burger decreases. This change in demand is due to price of related (i.e., substitute) goods.

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