Top Posters
Since Sunday
y
2
m
2
m
2
u
2
m
2
B
2
M
2
e
2
k
2
N
2
y
2
m
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Tidy Tidy
wrote...
Go to Answer
Posts: 4852
Rep: 38 0
9 years ago
In recent years the cost of producing organic produce in the U.S. has decreased largely due technological advancement. At the same time, more and more Americans prefer organic produce over conventional produce. Which of the following best explains the effect of these events in the organic produce market?
A) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
B) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
C) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in both the equilibrium price and the equilibrium quantity.
D) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
Read 271 times
2 Replies
Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
Replies
Answer verified by a subject expert
SmooothSmoooth
wrote...
#1
Top Poster
Posts: 5500
Rep: 381 0
9 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

wrote...
#2
9 years ago
No problemo Happy Dummy
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  722 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 563
  
 1124
  
 762
Your Opinion
What's your favorite coffee beverage?
Votes: 304
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?