Refer to the figure above. Demand for coffee last Monday is shown in bold and labeled D(Monday). On Tuesday, the news featured a story about a storm that wiped out the entire coffee crop in Brazil. On Wednesday:
Refer to the figure above. Demand for coffee last Monday is shown in bold and labeled D(Monday). On Tuesday, the news featured a story about a storm that wiped out the entire coffee crop in Brazil. On Wednesday:
A.demand shifted to D(A) in anticipation of future price increases.
B.the demand function remained at D(Monday), but the quantity demanded increased.
C.there would be no change in either the demand function or the quantity demanded because not enough time had passed for the storm’s effects to be felt.
D.demand shifted to D(B)( in anticipation of future price increases.
正确答案:demand shifted to D(B)( in anticipation of future price increases.
- 上一篇:Suppose one observes that when the price of peanut butter increases, the demand for jelly increases. One must conclude that:
- 下一篇:Refer to the figure above. Demand for coffee last Monday is shown in bold and labeled D(Monday). On Tuesday, the news featured a story explaining that the coffee crop has been contaminated with disease-causing bacteria. The following week: