Which of the figures best depicts the effect of an increase in the price of milk

Question

Which of the figures best depicts the effect of an increase in the price of milk on the market of coffee Figure A Figure B Figure C Figure D Which of the figures best depicts stock markets' falling Figure A Figure B Figure C Figure D Which of the figures best depicts the effect of the development of ibuprofen on the market of Aspirin Figure A Figure B Figure C Figure D Which of the figures best depicts the effect of legalization of abortion on the market of abortion on the market of bab adopting. Figure A Figure B Figure C Figure D

Explanation / Answer

(12) (c)

Coffee & milk are substitutes, so rise in price of milk will reduce demand for coffee, so demand curve for coffee shifts leftward.

(13) (c)

In a falling stock market, demand for stocks fall, and demand curve shifts leftward.

(14) (c)

Ibuprofen is a substitute for aspirin, so it will reduce the demand for aspirin & demand curve for aspirin shifts leftward.

(15) (a) Figure A

As abortion becomes legal, supply of babies available for adoption falls & supply curve of babies shifts left.

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