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Author Question: Refer to Scenario 3.2 below to answer the question(s) that follow. SCENARIO 3.2: Lettuce and spinach ... (Read 216 times)

Alainaaa8

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on: Apr 19, 2019

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.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Alainaaa8 on Apr 19, 2019

ryhom

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Alainaaa8

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Reply #2 on: Apr 19, 2019
Thanks


ryhom

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Reply #3 on: Apr 19, 2019
Welcome :)


Mimi

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Reply #4 on: Apr 19, 2019

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

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Reply #5 on: Apr 19, 2019
increase; increase


Zulu123

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Reply #6 on: Apr 19, 2019

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

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Reply #7 on: Apr 19, 2019
a decrease in the demand for tomatoes.


Zulu123

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Reply #8 on: Apr 19, 2019
Excellent


wtf444

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Reply #9 on: Apr 19, 2019
Great! Please up vote :D


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