Multiple Choice
-Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. Which of the following could result in a movement to point b?
A) An increase in the price of bottled water
B) An increase in the opportunity cost of soft drinks
C) A decrease in the price of bottled water
D) A decrease in the relative price of a soft drink
Correct Answer:
Verified
Correct Answer:
Verified
Q18: If both the demand and supply increase,
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Q22: A fall in the price of a
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Q25: Which of the following decreases the supply
Q26: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The above table
Q28: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -In the figure
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