Suppose the S curve for peanuts has shifted to the right and the D curve for peanuts has shifted to the right. Assume further that the S curve has shifted more to the right than the D curve has shifted to the right. Which of the following is the most likely equilibrium impact in the peanut market?
a) P increase, Q decrease
b) P increase, Q increase
c) P decrease, Q decrease
d) P decrease, Q increase
e) B and D
d) P decrease, Q increase
You might also like to view...
Are the costs of utilities always fixed, always variable, or can they be both? Briefly explain
What will be an ideal response?
Every international transaction automatically enters the balance of payments
A) once either as a credit or as a debit. B) twice, once as a credit and once as a debit. C) once as a credit. D) twice, both times as debit. E) the times, once as a credit, onces as a debit, and once as an exchange.
A quota:
A. is a tax on imports. B. is a tax on exports. C. directly limits the total quantity of a good that can be imported. D. directly limits the total quantity of a good that can be exported.
Which of the following is an examples of spending on factors of production in the circular flow model?