K Farmers can raise either goats or ostriches on their land. Which of the following would cause the supply of goats to decrease? OA. an increase in the price of ostriches OB. an increase in the demand for goats OC. a decrease in the price of goats O D. an increase in the price of ostrich feed

K Farmers can raise either goats or ostriches on their land. Which of the following would cause the supply of goats to decrease? OA. an increase in the price of ostriches OB. an increase in the demand for goats OC. a decrease in the price of goats O D. an increase in the price of ostrich feed

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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K Farmers can raise either goats or ostriches on their land. Which of the following
would cause the supply of goats to decrease? OA. an increase in the price of
ostriches OB. an increase in the demand for goats OC. a decrease in the price of
goats O D. an increase in the price of ostrich feed

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Explain how each of the following events changes the demand for or supply of jeans. A. People's incomes increase. B. A new technology becomes available that reduces the time it takes to manufacture a pair of jeans. C. The price of the cloth (denim) used to make jeans falls. D. Jeans come back into fashion. E. The price of a pair of jeans falls. F. The wage rate paid to garment workers rises. G. Many jeans producers go out of business. H. The price of a denim skirt halves. A. Event G decreases supply and event H increases demand. B. Event B decreases supply and event G increases demand. O C. Event C increases demand and event D increases supply. D. Event E increases demand and event F decreases supply. OE. Event A increases demand and event B increases supply.