A severe drought has damaged this year's lettuce crop. The initial effect on the lettuce market is a
A) decrease in the demand for lettuce.
B) decrease in the supply of lettuce.
C) decrease in both the demand and supply of lettuce.
D) rightward movement along the demand curve for lettuce.
Question 2
As Sean's consumption of rice goes up, his
A) average utility from consuming rice increases.
B) total utility from consuming rice increases.
C) marginal utility from consuming rice increases.
D) elasticity of utility from consuming rice increases.
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A promissory note has a face value of $6000 and it has a date of issue of June 1 this year. The ...