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The price of pineapples decreases ambiguously and the

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15)Given the demand-supply situations for pineapples in Q#14 above, which of the following statements is true?

(a)The price of pineapples increases and the quantity decreases unambiguously

(b)The price of pineapples decreases unambiguously and the quantity of pineapples is ambiguous

(c)The price of pineapples decreases ambiguously and the quantity of pineapples is unambiguous

(d)None of the above

(16)A revolutionary technology used in the production of brown rice lowers its cost of production given ceteris paribus. As a result, the market changes to a new equilibrium because of a(an):

(a)An upward movement along the demand curve for brown rice

(b)Rightward shift in the supply curve for brown rice

(c)Rightward shift in the demand curve for brown rice

(d)Shortage of brown rice

(17)Which of the following statements is true?

If the federal government subsidies a national day care service for firms that supply this service given ceteris paribus:

(a)The supply curve for day care service will shift to the right

(b)The demand curve for day care service will shift to the right

(c)The demand curve for day care service will shift to the left

(d)Any of the above


Attachment:- 239634_1_Eco-Questions.docx

Reference no: EM13306295

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