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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Due to technological advancements,the cost of producing electric cars has decreased significantly.How will this impact the market for electric cars?
A. It will cause a leftward shift in the supply curve.
B. It will cause a rightward shift in the supply curve.
C. It will cause a movement up along the
D. It will cause a movement down along the demand curve.
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- Consider the market supply of peanut butter. Choose whether each event will cause a movement along the supply curve for peanut butter or a shift of the supply curve for peanut butter, holding all else constant: ✓ A decrease in the number of producers A. Movement Along A. A decrease in the price of peanut butter B. Shift ✓ A change in expectations about the future price of peanut butter ✓ An increase in the cost of peanuts to the peanut butter producersarrow_forwardWhat are some general factors that can impact the demand for a product and the supply of a product? Identify at least two factors for each and explain the different ways these determinants can shift supply and demand either left or right.arrow_forwardWhich of the following would increase the demand for beef? A.) lower pork prices B.) higher prices of feed grains used to feed beef cattle C.) an increase in the price of beef D.) higher consumer incomearrow_forward
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