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Author Question: Scientists find that eating corn three times a day will prolong life. This leads to a shift in ... (Read 18 times)

vinney12

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on: Apr 19, 2019

Question 1

Suppose there is a permanent shift of consumer preferences away from pretzels and toward potato chips. The most likely result would be


◦ in the short run, economic losses in the potato chip market.
◦ in the long run, a fall in the supply of potato chips.
◦ in the short run, a rise in the price of pretzels.
◦ short-run profits in the potato chip market increase.

Question 2

Scientists find that eating corn three times a day will prolong life. This leads to a shift in preferences away from wheat and toward corn. As we move from one equilibrium to another, we can predict that


◦ all input markets are affected.
◦ all input markets except land are affected because both products use land as an input.
◦ labor markets are not affected because the wheat industry and the corn industry use laborers to drive tractors.
◦ even if they use different technologies, no input markets are affected because they use the same inputs.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by vinney12 on Apr 19, 2019

abro1885

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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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vinney12

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Reply 2 on: Apr 19, 2019
:D TYSM

cassie_ragen

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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