The price of peanuts increases. At the same time, we see the price for Jelly rise. How does this affect the market for peanut butter?
a. The demand curve will shift to the left; the supply curve will shift to the left
b. The demand curve will shift to the left; the supply curve will shift to the right
c. The demand curve will shift to the right; the supply curve will shift to the left
d. The demand curve will shift to the right; the supply curve will shift to the right
c
You might also like to view...
What is the Herfindahl index of an industry made up of four equal-sized firms?
A) 1,667 B) 2,500 C) 2,250 D) 125 E) This cannot be determined without further information.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $500 per credit hour, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $500. B. $1500. C. $150,000. D. $300,000.