If the price of barley (an input into beer production) falls and at the same time the price of wine rises (a substitute in consumption to beer) we would expect beer prices to and the amount of beer sold to Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. fall; fall b fall; fall or rise rise; fall fall or rise; rise
If the price of barley (an input into beer production) falls and at the same time the price of wine rises (a substitute in consumption to beer) we would expect beer prices to and the amount of beer sold to Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. fall; fall b fall; fall or rise rise; fall fall or rise; rise
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:ЕОC 5.07
If the price of barley (an input into beer production) falls and at the same time the price of wine rises (a substitute in consumption
to beer) we would expect beer prices to
and the amount of beer sold to
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a
fall; fall
b
fall; fall or rise
rise; fall
fall or rise; rise
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