Homework Answers
Answer
The correct answer is (a) Shift Rightward
As there is change in factor other than price, this means that there is change in Demand and hence Demand must shift. Suppose price of corn an input of ethanol decrease, hence now less cost will be incurred in order to produce ethanol. This implies MC decreases and hence at any price, more ethanol will be supplied as compare to before price change of corn. Hence this implies that Supply curve will shift to the Right.
Hence, the correct answer is (a) Shift Rightward
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Suppose there is a decrease in the price of corn. If corn is an input into...
in the market for oranges suppose a left ward shift in supply causes an increase in...
in the market for oranges suppose a left ward shift in supply
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QUESTION9 In the market for oranges, suppose a leftward shift in supply causes an increase in the equilibrium price of oranges. The movement from the original to the final equilibrium would ental an increase in the demand for oranges as they become more scarce. As a result of the...
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What happens to the market for corn if there is a drought that affects corn growers?...
What happens to the market for corn if there is a drought that affects corn growers? Select one: O a. A rightward shift in supply, a decrease in price, and an increase in quantity O b. A leftward shift in supply, an increase in price, and a decrease in quantity O c. A decrease in supply, an increase in demand, and an increase in price O d. A decrease in supply, a decrease in demand, and a decrease in price
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please answer
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in the market for oranges suppose a left ward shift in supply
causes an increase in the equilibrium price of oranges. the
movement from the original to the final equilowould entail
QUESTION9 In the market for oranges, suppose a leftward shift in supply causes an increase in the equilibrium price of oranges. The movement from the original to the final equilibrium would ental an increase in the demand for oranges as they become more scarce. As a result of the...
What happens to the market for corn if there is a drought that affects corn growers? Select one: O a. A rightward shift in supply, a decrease in price, and an increase in quantity O b. A leftward shift in supply, an increase in price, and a decrease in quantity O c. A decrease in supply, an increase in demand, and an increase in price O d. A decrease in supply, a decrease in demand, and a decrease in price
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