Question
In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved up and to the right. What could have caused this?
In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved up and to the right. What could have caused this?
| a. | a fall in the price of peanuts | |
| b. | a rise in the price of peanuts | |
| c. | a rise in income, assuming that peanut butter is an inferior good | |
| d. | a shift in preferences toward peanut butter | |
| e. | none of the above |
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Understanding Globalization The Social Consequences Of Political, Economic, And Environmental Change
Authors: Robert K Schaeffer
4th Edition
0742561801, 9780742561809
