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ID: 1135024 • Letter: O
Question
out ReferencesMailings Review View th security updatos, fxes, and improvements, choose Check for Updabs vi. Size ot the market: Number ot Explanation Practice 1) Which of the following will cause the supply curve for oranges to shift to the left? A. A study is released showing oranges improve eyesight. C. A new orange juice commercial airs on TV D. The government begins subsidizing orange growers. 2) Which of the following will most likdly cause a decrease in the supply of most fruits and vegetables? A. an increase in demand for meat B. the introduction of an environmentally friendly pesticide C. a decrease in the price of corn and rice D. harsh punishments for farmers who hire undocumented workers III) Market Equilibrium a. Equilibrium Price: definition: 3 6 8 0Explanation / Answer
1. B. An ice storm strikes Florida
If oranges improve eyesight in that case the demand for oranges will increase and hence, supply curve will shift to right.
Due to new commercial more people will be aware about oranges hence supply will shift to right.
Due to subsidy the price of oranges will decrease hence demand will increase. Therefore, supply will shift to its right.
2. D. Harsh punishment for farmers who hire undocumented workers.
The cross elasticity is not provided thus exactly we cannot say whether meat has an impact on fruits
Environmental friendly pesticide will encourage more buyers hence demand as well as supply will increase.
Again the cross elasticity is not provided. Therefore we cannot state the impact of this on supply of fruits and vegetables. Also, due to low price consumer will have surplus income which they can spend on fruits thus demand of fruit and vegetable will increase and hence supply will also increase.
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