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Exhibit 39-8 -Refer to Exhibit 39-8.Assume That E1 Represents the Initial Equilibrium

Question 68

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Exhibit 39-8 Exhibit 39-8 -Refer to Exhibit 39-8.Assume that E<sub>1</sub> represents the initial equilibrium in the market for grain X.As a result of a breakthrough in genetic engineering that develops an insect-resistant variety of grain X, A) the supply curve shifts leftward. B) the equilibrium quantity increases. C) the equilibrium price rises. D) all of the above E) a and c
-Refer to Exhibit 39-8.Assume that E1 represents the initial equilibrium in the market for grain X.As a result of a breakthrough in genetic engineering that develops an insect-resistant variety of grain X,


A) the supply curve shifts leftward.
B) the equilibrium quantity increases.
C) the equilibrium price rises.
D) all of the above
E) a and c

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