Multiple Choice
Almonds and walnuts are substitutes. Suppose the world demand for walnuts increases.
General equilibrium analysis predicts a ____ effect on the equilibrium price and a ____ effect on the quantity of almonds than partial equilibrium analysis.
A) larger; larger
B) larger; smaller
C) smaller; larger
D) smaller; smaller
Correct Answer:
Verified
Correct Answer:
Verified
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