If oranges were found to cure cancer
A) the equilibrium price of apples would likely fall.
B) the equilibrium price of oranges would likely increase in the near term.
C) the equilibrium quantity of oranges would likely increase.
D) All of the above.
D
You might also like to view...
In an ad for insurance, the text reads "Life's an adventure, and there are plenty of perils awaiting your jewelry: a lost or broken stone, theft, accidental loss, damage, mysterious disappearance Have you thought about insurance?"
What is the economic reasoning for an individual to buy insurance? A) Individuals who buy insurance are profit maximizers. B) Individuals who buy insurance are rational. C) Individuals who buy insurance are dishonest and can profit from dishonesty. D) Individuals who buy insurance increase their expected utility by owning insurance.
Where it can function, a market for pollution rights can serve to internalize the air-pollution externality
Indicate whether the statement is true or false
Suppose you were working for Richstone's bakery and calculating whether the bakery was making a profit, considering the recent increase in rent. You have the following data: P = $20, AVC = $10, AFC = $12, and quantity of birthday cakes produced a day is 20 . You conclude that the bakery ends up at the end of the day with a
a. loss of $10 b. profit of $10 c. loss of $20 d. profit of $40 e. loss of $40
Which countries are among the highest-rated nations on the Gender Development Index?
a. Niger, Mali, Saudi Arabia, and Iran b. Canada, the U.S., Israel, China, and Kenya c. France, Japan, Brazil, and the U.S. d. Norway, Iceland, Sweden, Australia, and the U.S