Re Figure 2

The graphs below depict possible demand and supply curve shifts in the market forflowersin Portland. Suppose the municipal government mandates that all flower sellers must have a doctoral degree in floristry, pass a grueling floristry exam, and pay a $2,500 fee every year that they sell flowers. Which figure below best describes what would happen?

Figure 2

Select one:

a.

a

b.

b

c.

c

d.

d

Question5

Now let's think about the market for limes. Which of the following events would cause the demand in this market to decrease?

Select one:

a.

Citrus greening, a disease that affects citrus, destroys one half of the lime crop

b.

A conclusive medical study is released establishing that limes causes serious illness

c.

The price of tequila, a complementary good to limes, decreases

d.

Farmer workers unionize, resulting in higher wages for harvesting limes

Figure 1 Figure 3 P Price Figure 4 A S d C E D A OUTPUT OF TANKS B F b C OUTPUT OF AUTOMOBIL PPC2 PPCI DO D1 Q Quantity Figure 2 Supply Curve Supply Curve Demand Curve Demand Curve (leftward) (rightward) (leftward) (rightward) Price Price Price Price Quantity Quantity Quantity Quantity (a) (b) (c) (d)