Orange juice drinkers want to consume more orange juice at a lower price. Which of the following events would have this effect?
A) a decrease in the population
B) a decrease in the price of orange juice processing
C) an increase in the cost of fertilizer used for orange groves
D) a decrease in income, assuming orange juice is a normal good
B
You might also like to view...
Your authors argue that unsustainable booms, followed by recessionary busts, are primarily caused by the Fed's expansionary monetary policies. Which of the following serves as an exception to their claim?
A) The Great Depression of the 1930s B) The Great Recession of the late 2000s C) The authors admit that both of the above are exceptions. D) The authors argue that neither of the above are exceptions, but rather strong examples.
Billie's Billiard Barn has seen its business slow down ever since Patti's Ping Pong Parlour opened up across the street
Since the opening of Patti's Ping Pong Parlour, the opportunity cost of shooting pool at Billie's Billiard Barn has ________ for Billie's customers who also like to play ping pong. A) not changed. B) decreased. C) fallen to zero. D) increased.
Points below the production possibilities frontier are inefficient because it is possible to make someone better off without making anyone else worse off
a. True b. False Indicate whether the statement is true or false
Agricultural Products can be modeled best using the model of
A. monopoly. B. oligopoly. C. perfect competition. D. monopolistic competition.