Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please give answers for questions 9-12 9. The government imposes a tax to lettuce farmers. You accurately predict that in the market for lettuce, there

Please give answers for questions 9-12

image text in transcribed
9. The government imposes a tax to lettuce farmers. You accurately predict that in the market for lettuce, there will be: a. a decrease in the supply of lettuce, an increase in the price and a decrease in the demand. b. an increase in the quantity supplied of lettuce, a reduction in the price and an increase in the quantity demanded. . c. an increase in the supply of lettuce, a reduction in the price and increase in the demand. d. a decrease in the supply of lettuce, an increase in the price and a decrease in the quantity demanded. 10. Assume that pink salmon is a normal good and consumers' income increases. You accurately predict that in the market for pink salmon, there will be: a. an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied. b. an increase in the quantity supplied of pink salmon, a reduction in the price and an increase in the quantity demandedf c. an increase in the demand for pink salmon, a reduction in the price and an increase in the supply. d. an increase in the supply of pink salmon, an increase in the price and a decrease in the quantity demanded. 11. As per a recent health news report, raw fish and thus, sushi, could be harmful to one's health. You accurately predict that in the market for sushi, there will be: a. a decrease in the demand of sushi, an increase in the price and a decrease in supply. b. an increase in the quantity supplied of sushi, a reduction in the price and an increase in the quantity demanded. c. a decrease in the demand for sushi, a reduction in the price and a decrease in the quantity supplied. d. an increase in the supply of sushi, an increase in the price and a decrease in the quantity demanded. 12. Apples and oranges are substitute goods in consumption. If a hurricane in Florida destroyed a large portion of the orange crop, a. the price of both apples and oranges will rise. b. the price of both apples and oranges will fall. c. the price of apples will rise and the price of oranges will fall. d. the price of apples will fall and the price of oranges will rise

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

9781266566899

Students also viewed these Economics questions