Refer to Scenario 3.2 below to answer the question(s) that ...

[Alainaaa8]

Refer to Scenario 3.2 below to answer the question(s) that follow.



SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.





Refer to Scenario 3.2. As a result of the flooding during the winter, you would expect that

◦ the price of lettuce would increase, the supply of lettuce would increase, and the quantity demanded of lettuce would decrease.
◦ the supply of lettuce would decrease, the price of lettuce would increase, and the quantity demanded of lettuce would decrease.
◦ the price of lettuce would increase and both the quantity of lettuce supplied and the quantity of lettuce demanded would increase.
◦ the supply of lettuce would decrease, the price of lettuce would increase, and the demand for lettuce would decrease.

[ryhom]

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[Alainaaa8]

Thanks

[ryhom]

Welcome

[Mimi]

Refer to Scenario 3.2 below to answer the question(s) that follow.



SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.





Refer to Scenario 3.2. The floods that destroyed part of the lettuce crop would have caused the equilibrium price of spinach to ________ and the equilibrium quantity of spinach to ________.

◦ decrease; decrease
◦ decrease; increase
◦ increase; increase
◦ increase; decrease

[bigcheese9]

increase; increase

[Zulu123]

Refer to Scenario 3.2 below to answer the question(s) that follow.



SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.





Refer to Scenario 3.2. The floods that destroyed part of the lettuce crop would have caused

◦ an increase in the demand for tomatoes.
◦ a decrease in the demand for tomatoes.
◦ an increase in the quantity of tomatoes demanded.
◦ a decrease in the quantity of tomatoes demanded.

[wtf444]

a decrease in the demand for tomatoes.

[Zulu123]

Excellent

[wtf444]

Great! Please up vote

[lindiwe]

Refer to Scenario 3.2 below to answer the question(s) that follow.



SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.





Refer to Scenario 3.2. If at the same time that part of the lettuce crop was destroyed, consumer income also decreased, then, 
ceteris paribus, in the market for lettuce this would have caused

◦ both the equilibrium price and quantity to decrease.
◦ the equilibrium price to increase and the equilibrium quantity to decrease.
◦ the equilibrium price to decrease. The equilibrium quantity could have increased, decreased, or remained the same.
◦ the equilibrium price to either increase, decrease, or remain the same and the equilibrium quantity to decrease.

[peilian]

the equilibrium price to either increase, decrease, or remain the same and the equilibrium quantity to decrease.

[dollx]

Refer to Scenario 3.2 below to answer the question(s) that follow.



SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.





Refer to Scenario 3.2. The government wants to protect consumers from rising food prices. Therefore, price restrictions are imposed on lettuce growers prohibiting them from raising the price of lettuce. This will cause

◦ an excess supply of lettuce.
◦ an excess demand for lettuce.
◦ an increase in the demand for lettuce.
◦ a decrease in the supply of lettuce.

[quynhmickitran]

an excess demand for lettuce.

[dollx]

TY

[quynhmickitran]

You're welcome