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Author Question: A hurricane destroyed the peach crop in South Carolina. Shortly thereafter the price of peaches rose ... (Read 131 times)

karlynnae

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on: Jun 30, 2018
A hurricane destroyed the peach crop in South Carolina. Shortly thereafter the price of peaches rose significantly. These events suggest that a(n):
 a. decrease in the supply of peaches caused the price of peaches to rise.
  b. increase in the supply of peaches caused the price of peaches to rise.
  c. increase in demand caused the price of peaches to rise.
  d. decrease in demand caused the price of peaches to rise.

Question 2

An increase in the price of plastic raises the cost of manufacturing DVDs. As a result, the market changes to a new equilibrium because of a(n):
 a. surplus of DVDs.
  b. increase in the demand for DVDs.
  c. leftward shift in the demand curve for DVDs.
  d. leftward shift in the supply curve for DVDs.


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tuwy

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


karlynnae

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Reply 2 on: Jun 30, 2018
Wow, this really help

smrtceo

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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