You notice that the price and quantity of wheat both decrease. This observation can be the result of the
A) demand curve for wheat shifting rightward.
B) demand curve for wheat shifting leftward.
C) supply curve of wheat shifting rightward.
D) supply curve of wheat shifting leftward.
B
Economics
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Long-run cost curves are U-shaped because
A) of economies and diseconomies of scale. B) of the law of diminishing returns. C) of the law of supply. D) of the law of demand.
Economics
The income and substitution effects move in ________ for lenders and in ________ for borrowers
A) the same direction; the same direction B) the same direction; opposite directions C) opposite directions; the same direction D) opposite directions; opposite directions
Economics