Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Agro economics 1) Which of the following would NOT cause a shift in the demand for tomatoes? (Points: 20) A) NBC news advertising that tomatoes

image text in transcribed

Agro economics

image text in transcribed
1) Which of the following would NOT cause a shift in the demand for tomatoes? (Points: 20) A) NBC news advertising that tomatoes contain compounds that are "good for your heart" B) a change in consumers' incomes C) a change in the price of tomatoes D) a change in the price of lettuce E) a change in the price of cucumbers 2) Which of the following is NOT a supply shifter for barley? (Points: 20) A) a unexpected drought during the planting season B) new, improved barley seed varieties C) a change in the price of fertilizer D) a change in the demand for barley E) more barley farmers 3) In a perfectly competitive market (Points: 20) A) buyers are price takers B) buyers and sellers are insignificant relative to the market C) there are a large number of buyers and sellers D) sellers are price takers E) all of the above 4) At a price above the equilibrium price (Points: 20) A) the quantity demanded exceeds the quantity supplied B) a shortage would exist C) producers would have economic losses D) automatic forces would try to push price down 5) Which of the following could cause the price of ground beef to change? (Points: 20) A) a demand shift B) a supply shift C) a change in one of the ceteris paribus conditions of demand D) a change in one of the ceteris paribus conditions of supply E) all of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

20th Edition

1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870

Students also viewed these Economics questions

Question

=+a) Comparing the ratings of a new telephone set on a

Answered: 1 week ago

Question

what is the law of nonresistance florence scovel shinn

Answered: 1 week ago