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Author Question: Suppose that a new study is released stating that consumption of orange juice (a substitute for ... (Read 194 times)

Lobcity

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on: Jun 30, 2018
Suppose that a new study is released stating that consumption of orange juice (a substitute for apple juice) reduces the risk of cancer, and a major freeze destroys half of the country's apple cro
 
  A) The price of apple juice might rise or fall and the quantity of apple juice falls.
  B) The quantity of apple juice might rise or fall, and the price of apple juice rises.
  C) The price of apple juice falls and the quantity of apple juice falls.
  D) The price of apple juice might rise or fall and the quantity of apple juice rises.

Question 2

Refer to the figure above. What is the equilibrium wage rate and equilibrium level of employment?
 
  A) 35 and 10 units of labor B) 20 and 15 units of labor
  C) 15 and 35 units of labor D) 25 and 20 units of labor


karmakat49

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

A

Answer to Question 2

D


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