PRICE (Dollars per pound) North South APPLES (Thousands of pounds per year) in the North, if the price goes up by $0.20 per pound, then the quantity supplied in the North goes up by 100 pounds per goes up by $0.20 in the South, what will happen to the quantity supplied? The quantity will increase by 100 pounds per year. The quantity will increase by 50 pounds per year. There is not enough information given to determine the supply change in the South. The quantity will decrease by 100 pounds per year.

PRICE (Dollars per pound) North South APPLES (Thousands of pounds per year) in the North, if the price goes up by $0.20 per pound, then the quantity supplied in the North goes up by 100 pounds per goes up by $0.20 in the South, what will happen to the quantity supplied? The quantity will increase by 100 pounds per year. The quantity will increase by 50 pounds per year. There is not enough information given to determine the supply change in the South. The quantity will decrease by 100 pounds per year.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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