Suppose that apples are a normal good. Suppose further that national income is increasing while, at the same time, the price of fertilizer, an input in the production of apples, decreases. Everything else held constant, the equilibrium price of apples will_____and the equilibrium quantity of apples transacted will Select one: OA. increase; decrease OB. increase; be ambiguous OC. decrease; be ambiguous OD. be ambiguous; increase OE. decrease; decrease OF. be ambiguous; decrease OG. decrease; increase OH. increase; increase COL be ambiguous; be ambiguous
Suppose that apples are a normal good. Suppose further that national income is increasing while, at the same time, the price of fertilizer, an input in the production of apples, decreases. Everything else held constant, the equilibrium price of apples will_____and the equilibrium quantity of apples transacted will Select one: OA. increase; decrease OB. increase; be ambiguous OC. decrease; be ambiguous OD. be ambiguous; increase OE. decrease; decrease OF. be ambiguous; decrease OG. decrease; increase OH. increase; increase COL be ambiguous; be ambiguous
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 2SQP
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