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You notice that the price of butter rises and then falls. The best explanation for this is that

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You notice that the price of butter rises and then falls. The best explanation for this is that

You notice that the price of butter rises and then falls. The best explanation for this is that
A) demand for butter decreased causing price to rise, which attracted other firms to enter the market causing supply to increase, which caused the price to go back down.
B) demand for butter increased causing price to rise, which attracted other firms to enter the market causing supply to decrease, which caused the price to go back down.
C) demand for butter increased causing price to rise, which induced other firms to exit the market causing supply to decrease, which caused the price to go back down.
D) demand for butter increased causing price to rise, which attracted other firms to enter the market causing supply to increase, which caused the price to go back down.

Textbook

Survey of Economics: Principles, Applications and Tools

Edition: 6^th

Authors: O'Sullivan, Sheffrin, Perez

Read 88 times

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can't thank you enough for this, appreciate it a lot

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