Multiple Choice
Buyers scrambled to secure stocks of Australian wool following a forecasted 11 percent decline in wool production.What will happen in the Australian wool market as a result of this announcement?
A) The demand curve for Australian wool will shift to the left in anticipation of higher prices in the future.
B) The demand curve for Australian wool will shift to the right in anticipation of higher prices in the future.
C) The quantity of Australian wool demanded will increase in anticipation of higher prices in the future.
D) The quantity of Australian wool demanded will decrease in anticipation of lower quantities in the future.
Correct Answer:
Verified
Correct Answer:
Verified
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