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Which answers are correct and why? The tables show the average prices of wheat in European countries between 1838 comm with vlolgnt may III we
Which answers are correct and why?
The tables show the average prices of wheat in European countries between 1838 comm\" with vlolgnt may\" III we and 1845 and their maximum price in 1845-48, measured relative to the price of silver. The third column shows the difference between the maximum price and the average price, calculated as a percentage of the average price. There was a poor wheat harvest in 1845. Countries in the rst table had a violent revolution in 1848, while those in the second table did not. Based on this information, which of the following statements is correct? mu mmmmmnmwonhms m m um 12.9 110.9 52.1\" 112 um sssn m m cm T a. shift to the right of the supply curve caused the price hike. b. A high average price of wheat contributed to violent revolution. 7 c. Countries with a violent revolution had a more inelastic demand curve. \" d. There is a positive correlation between large price hikes in wheat and the incidence of violent revolutionStep by Step Solution
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