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Movement from point 2 to point 1 5) The price of beer falls. As a result, Pabst sells less beer. This could be illustrated by A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point 1 6) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple juice? A. A shift from S₁ to S₂ B. A shift from S₂ to S₁ C. Movement from point 1 to point 2 D. Movement from point 2 to point 1 7) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple sauce? A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point |1

Movement from point 2 to point 1 5) The price of beer falls. As a result, Pabst sells less beer. This could be illustrated by A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point 1 6) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple juice? A. A shift from S₁ to S₂ B. A shift from S₂ to S₁ C. Movement from point 1 to point 2 D. Movement from point 2 to point 1 7) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple sauce? A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point |1

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Movement from point 2 to point 1 5) The price of beer falls. As a result, Pabst sells less beer. This could be illustrated by A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point 1 6) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple juice? A. A shift from S₁ to S₂ B. A shift from S₂ to S₁ C. Movement from point 1 to point 2 D. Movement from point 2 to point 1 7) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple sauce? A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point |1
Transcribed Image Text:Movement from point 2 to point 1 5) The price of beer falls. As a result, Pabst sells less beer. This could be illustrated by A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point 1 6) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple juice? A. A shift from S₁ to S₂ B. A shift from S₂ to S₁ C. Movement from point 1 to point 2 D. Movement from point 2 to point 1 7) Apple juice and apple sauce are substitutes in production. How would an increase in the price of apple juice affect the supply curve for apple sauce? A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point |1
Use the following figure to answer the next four questions P S₁ S₂ 4) Suppose a new technology is invented that allows for beer to be produced at a lower marginal cost. This could be illustrated by A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point 1
Transcribed Image Text:Use the following figure to answer the next four questions P S₁ S₂ 4) Suppose a new technology is invented that allows for beer to be produced at a lower marginal cost. This could be illustrated by A) A shift from S₁ to S₂ B) A shift from S₂ to S₁ C) Movement from point 1 to point 2 D) Movement from point 2 to point 1
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