Solved

If We Plot the Quantity of Aluminum Ore Mined Per

Question 57

Multiple Choice

If we plot the quantity of aluminum ore mined per year on the horizontal axis and the real annual price of aluminum ore on the vertical axis, we find that the path of price-quantity combinations generally indicates lower real prices and higher quantities over time. Which of the following statements is a plausible explanation for this observed outcome?


A) Aluminum supply shifted leftward faster than the aluminum demand curve shifted rightward.
B) Aluminum supply shifted rightward faster than the aluminum demand curve shifted rightward.
C) Aluminum supply shifted rightward and aluminum demand remained constant.
D) both A and B above
E) both B and C above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents