Question1 (i) There are a total of 100 vegetable farmers. Because of the recent typhoon, 50 of the farmers’ lands are badly damaged. Which of the following will likely happen to the supply curve of vegetables? A: The supply curve will shift to the left. B: The supply curve will shift to the right. C: The supply curve will not shift as the price will rise along the supply curve. D: The supply curve will not shift as the price will fall along the supply curve. (ii) The law of supply states that when the price of cookies changes the supply curve for cookies: A: will not shift because the movement is along the original demand curve. B: will not shift because the movement is along the original supply curve. C: will shift and the demand curve will also shift. D: will shift but the demand curve will not shift.
Question1
(i) There are a total of 100 vegetable farmers. Because of the recent typhoon, 50 of the farmers’ lands are badly damaged. Which of the following will likely happen to the supply curve of vegetables?
A: The supply curve will shift to the left.
B: The supply curve will shift to the right.
C: The supply curve will not shift as the
D: The supply curve will not shift as the price will fall along the supply curve.
(ii) The law of supply states that when the price of cookies changes the supply curve for cookies:
A: will not shift because the movement is along the original
B: will not shift because the movement is along the original supply curve.
C: will shift and the demand curve will also shift.
D: will shift but the demand curve will not shift.
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