Business, 17.03.2020 22:14 leeahnnfoster

The price of apples used to make apple pies has decreased. At the same time, people expect the price of apple pies increase significantly in the future. Given these two effects, what will happen to the current equilibrium quantity and price of apple pies?

a.
Equilibrium quantity will increase; the effect on price is ambiguous.

b.
Equilibrium price will increase; the effect on quantity is ambiguous.

c.
Equilibrium price will decrease; the effect on quantity is ambiguous.

d.
Equilibrium quantity will decrease, equilibrium price will increase.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 18:00

Which of the following results from outsourcing jobs from the united states to other countries? a. increasing exports out the united states. b. lower wages for u.s. workers. c. reduced immigration to the united states. d. subsidies for goods made in the united states. 2b2t

Answers: 2

Answer

Business, 22.06.2019 13:40

After much consideration, you have chosen cancun over ft. lauderdale as your spring break destination this year. however, spring break is still months away, and you may reverse this decision. which of the following events would prompt you to reverse this decision? a. the marginal cost of going to cancun decreases.b. the marginal cost of going to ft. lauderdale decreases.c. the marginal benefit of going to cancun increases.d. the marginal benefit of going to ft. lauderdale decreases.

Answers: 2

Answer

Business, 22.06.2019 16:30

Which of the following has the largest impact on opportunity cost

Answers: 2

Answer

Business, 22.06.2019 23:00

If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?

Answers: 2

Answer

You know the right answer?

The price of apples used to make apple pies has decreased. At the same time, people expect the price...

Questions