carefully explain what is happening in the following market.indicate the impact if any on demand, supply price and quantity: In the market for peanut butter, there is an increase in the price of jelly. choose the suitable answer for the questions below: 1)impact on supply 2)impact on demand 3)impact on price 4) impact on quantity
carefully explain what is happening in the following market.indicate the impact if any on demand, supply price and quantity: In the market for peanut butter, there is an increase in the price of jelly. choose the suitable answer for the questions below: 1)impact on supply 2)impact on demand 3)impact on price 4) impact on quantity
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 10P
Related questions
Question
carefully explain what is happening in the following market.indicate the impact if any on demand, supply price and quantity:
In the market for peanut butter, there is an increase in the price of jelly.
choose the suitable answer for the questions below:
1)impact on supply
2)impact on demand
3)impact on price
4) impact on quantity
Answers
a. decrease
b.excess supply
c. increase equilibrium quantity
d. decrease towards equilibrium
e.increase towards equilibrium
f. change in price in uncertain
g.decrease
h.excess demand
i. change in quantity uncertain
j.increase equilibrium price
k. no impact
l.shift outwards/ to right
m.shift inwards/to left
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