In the North, if the price goes down by $0.20 per pound, then the quantity supplied in the North goes down by 200 pounds per year. If the price of cherries goes down by $0.20 in the South, what will happen to the quantity supplied? A. There is not enough information given to determine the supply change in the South. B. The quantity will decrease by 200 pounds per year. C. The quantity will increase by 100 pounds per year. D. The quantity will increase by 200 pounds per year.
In the North, if the price goes down by $0.20 per pound, then the quantity supplied in the North goes down by 200 pounds per year. If the price of cherries goes down by $0.20 in the South, what will happen to the quantity supplied? A. There is not enough information given to determine the supply change in the South. B. The quantity will decrease by 200 pounds per year. C. The quantity will increase by 100 pounds per year. D. The quantity will increase by 200 pounds per year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The following graphs show the relationship between the price of cherries and the quantity of cherries supplied in two different regions, the North and the and South. Assume that the two lines are parallel.
In the North, if the price goes down by $0.20 per pound, then the quantity supplied in the North goes down by 200 pounds per year. If the price of cherries goes down by $0.20 in the South, what will happen to the quantity supplied?
A. There is not enough information given to determine the supply change in the South.
B. The quantity will decrease by 200 pounds per year.
C. The quantity will increase by 100 pounds per year.
D. The quantity will increase by 200 pounds per year.
Transcribed Image Text:North
South
CHERRIES (Thousands of pounds per year)
PRICE (Dollars per pound)
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