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mlee52381 mlee52381
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A year ago
The table below provides data on opium sales and farmgate prices of opium in Afghanistan from 1994 to 2008.




Refer to the table above. From 2000 to 2001, opium sales fell by 95 percent and opium prices increased by 975 percent. If you are told that demand curve for opium in Afghanistan remained constant from 2000 to 2001, what was the likely change in opium supply?

▸ Increase in only quantity supplied

▸ Decrease in supply

▸ Decrease in only quantity supplied

▸ Increase in supply
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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kewell_10kewell_10
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A year ago
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