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19 September, 02:58

We observe both the price and quantity sold of ketchup falls over time. assuming all else stayed the same, this is due to:

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  1. 19 September, 04:10
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    The reason behind the falling of price and quantity of ketchup sold is that the cost of mustard seeds decreases as mustard is a substitute of ketchup and for the input mustard seeds are produced. So, if the price of mustard seed decreases, the price of ketchup also decreases.
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