"Because of unseasonable cold weather, much of the peach crop has been destroyed." This statement indicates that the:
a. price of peaches will fall.
b. quantity of peaches that will be available at any given price has decreased.
c. demand for peaches will shift to the left.
d. quantity of peaches that will be available at any given price have increased.
b
Economics
You might also like to view...
If lenders refuse to state the debt in terms of dollars, then dollars are not a
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.
Economics
Consider a market in which there is an external benefit. The inefficient market equilibrium is such that
A) too little output is produced. B) too much output is produced. C) price is too high. D) marginal social cost is greater than marginal social benefit.
Economics