For the following questions, circle the letter of the diagram (A, B. C. or D) that best describes the type of shift that would occur in each situation for the U.S. farming market. Supply Curve Supply Curve Demand Curve Demand Curve (leftward) (rightward) (leftward) (rightward) Price Price Price Price Quantity Quantity Quantity Quantity (a) (b) (c) (d) 7. OPEC raises oil prices, which causes a significant increase in the cost of fuel for tractors and other farm vehicles. A) A B) B C) D) 8. The federal government reduces subsidies to U.S. farmers. A) A B) B 9. The U.S. population becomes more weight conscious and people consume smaller quantities of food. A) A B) C) D) 10. Improvements in crops allow farmers to use fewer pesticides and other chemicals, which reduces costs. A) A B) B C) D) 11. The weather is particularly favorable for crops throughout the United States for the entire year. A) A B) B D) 12. The government allows ethanol, a corn-based product, to be used in place of petroleum-based fuel. A) A B) B 13. As the population grows, the need for food grows as well. A Suppose you observe the following demand curve for a product: 200 180 - 160