An increase in the demand for peanuts due to changes in consumer tastes, accompanied by an increase in the supply of peanuts as a result of favorable growing conditions, will result in
A) an increase in the equilibrium price of peanuts and no change in the equilibrium quantity.
B) an increase in the equilibrium quantity of peanuts; the equilibrium price may increase or decrease.
C) an increase in the equilibrium price of peanuts; the equilibrium quantity may increase or decrease.
D) an increase in the equilibrium quantity of peanuts and no change in the equilibrium price.
Question 2
List three key reasons to study economics.
What will be an ideal response?
Primary production increases with an increase in total phosphorus concentration.
Risk of Stroke and Heart Disease Increase with Increasing Blood Pressure
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
The demand for cheap coal to generate electrical power is rising
Effect of an Increase in Technological Progress
Find the factor demand for labour and the amount of output it will produce. Show all ...