For example, for breakfast I really like to eat cereal. If we run out of milk, then we would go to the store to get more because milk is a complement with cereal and usually one wouldn't eat just cereal alone. There are also instances when we don't have time to go to the store and would have to wait, when that happens, I would avoid the meal itself because it's in our lifestyle to pair the two together so when they're not available, we would usually just skip it. The reason for this type of relationship is because Milk and Cereal is an enlastic demand, there are no substitutes for it so even when the price of milk goes up, the sale for cereal will continue because they are complements with one another.
Question:
This leads to me wonder that although milk and cereal are complements, they are a little bit different from other complements because they have an inelastic effect so unlike the definition, when the price of milk goes up, the sales for cereal WILL NOT fall because the products have an inelastic demand. Does this type of relationship occur with other complements as well? or does it depend?
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