Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B. If it is discovered that wapanzo beans help prevent cancer, then supply will ________ and demand will ________
A) become case C; become case 1
B) become case C; stay at case 2
C) stay at case B; become case 1
D) become case A; become case 1
C
You might also like to view...
The demand for labor of a perfectly competitive producer: a. is perfectly elastic at the going wage rate
b. is downward sloping because prices fall when the producer increases output. c. is downward sloping because of diminishing marginal productivity. d. is downward sloping because prices fall when the producer increases output and because of diminishing marginal productivity.
Assume that the demand curve for DVD players shifts to the left and the supply curve for DVD players shifts to the right, but the supply curve shifts more than the demand curve. As a result
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will increase. D) the equilibrium price of DVD players will decrease; the equilibrium quantity will increase.
Why do economists predict that investment increases when the real rate of interest falls?
What will be an ideal response?
If the marginal tax rate is less than the average tax rate, the tax would be
A. progressive. B. regressive. C. uniform. D. proportional.