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Posts: 240
4 weeks ago
Recall the Application about the increase in Chinese demand for pecans to answer the following question(s). Between 2006 and 2009, Chinese imports of U.S. pecans increased from 9 million pounds per year to 88 million pounds per year, and as a result of the increase in demand, the equilibrium price increased by about 50 percent. The increase in demand was caused in part by widespread reports in the Chinese media extolling the health benefits of pecans.


Recall the Application. The equilibrium price of pecans increased because the demand curve shifted:

▸ down and to the right.

▸ down and to the left.

▸ up and to the right.

▸ up and to the left.
Textbook 
Microeconomics: Principles, Applications, and Tools
Edition: 8th
Authors:
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4 weeks ago
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up and to the right.
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4 weeks ago
This helped my grade so much
wrote...
4 weeks ago
Perfect
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