Suppose scientists discover that eating soybeans prevents cancer and heart disease. Other things constant,
A) demand for soybeans will increase and soybean prices will fall.
B) the price of soybeans will increase and demand will fall.
C) demand and prices of soybeans will increase.
D) the quantity demanded of soybeans will change, but demand will remain the same.
C
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What is larger: M1 or M2? Why?
What will be an ideal response?
If there are only two firms in an industry, the value of the Herfindahl index must be 5,000
a. True b. False
In the long run, a decrease in aggregate demand will lead to a(n): a. decrease in price and output levels
b. increase in price and output levels. c. increase in the price level and a decrease in output. d. decrease in the price level and an increase in output. e. decrease in the price level and no change in output.
Which of the following would most likely feature elastic demand?
a. heart surgery b. a required textbook c. fresh green beans d. all of the above