If one day a terrible disease were to wipe out over one-half of the world's lime trees, which of the following would likely result?
A) The supply curve of lime juice would shift downward and to the right.
B) The supply curve of lime juice would shift upward and to the left.
C) The demand curve for lime juice would shift to the right.
D) The demand curve for lime juice would shift to the left.
B
Economics
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Economics
Refer to the above figure. The firm is operating using MRP0. An increase in productivity has occurred. The relevant curve for the firm after the increase in productivity
A) is MRP0. B) is MRP1. C) is MRP2. D) could be MRP1 or MRP2 depending upon whether the firm was earning a positive profit.
Economics