Last year, 1,000 cases of cough syrup were sold at $10; this year, 1,200 cases were sold at $12. The most probable interpretation of these data is that the A. supply and demand curves are shifting to the right. B. supply and demand curves are shifting to the left. C. supply curve has shifted to the left, with no change in demand. D. demand curve has shifted to the right, with no change in supply.
Last year, 1,000 cases of cough syrup were sold at $10; this year, 1,200 cases were sold at $12. The most probable interpretation of these data is that the A. supply and demand curves are shifting to the right. B. supply and demand curves are shifting to the left. C. supply curve has shifted to the left, with no change in demand. D. demand curve has shifted to the right, with no change in supply.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 3QR
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Last year, 1,000 cases of cough syrup were sold at $10; this year, 1,200 cases were sold at $12. The most probable interpretation of these data is that the
A.
B. supply and demand curves are shifting to the left.
C. supply curve has shifted to the left, with no change in demand.
D. demand curve has shifted to the right, with no change in supply.
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