ECON 2010

ECON 2010 - will increase causing a shift to the right The...

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Ashlie Michelle Ferguson ECON 2010 Enrollment #: 642885 Lesson 3 1. An increase wages paid to farm workers would cause the supply of oranges to decrease. It would cause a shift to the left in the supply curve. Because of the shift, and demand remaining the same, the equilibrium price will increase and the equilibrium quantity will decrease. See below graph: S1 S2 D1 Q1 Q2 P2 P1 2. If it is discovered the fish oils help prevent heart disease, demand for fish oils
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Unformatted text preview: will increase, causing a shift to the right. The findings will increase preference by demanders for the fish oil. The resulting shift will lead to an increase in both the equilibrium price and quantity. See below graph: 3. D 4. E 5. E 6. D 7. B 8. A 9. B 10. B 11. B 12. E 13. D 14. B 15. D 16. C 17. C Q2 Q1 P1 P2 D1 D2 S1...
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This note was uploaded on 05/11/2010 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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ECON 2010 - will increase causing a shift to the right The...

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