Figure 3-8
-Refer to Figure 3-8.The graph in this figure illustrates an initial competitive equilibrium in the market for sugar at the intersection of D1 and S2 (point B) .If there is a decrease in the price of fertilizer used on sugar cane and there is a decrease in tastes for sugar-sweetened soft drinks,how will the equilibrium point change?
A) The equilibrium point will move from B to A.
B) The equilibrium point will move from B to C.
C) There will be no change in the equilibrium point.
D) The equilibrium point will move from B to E.
Correct Answer:
Verified
Q175: Figure 3-8 Q177: Figure 3-8 Q179: Figure 3-8 Q195: Assume that the demand curve for MP3 Q208: "Because chips and salsa are complements, an Q215: The cost of raising beef cattle has Q217: A decrease in the equilibrium price for Q227: As the number of firms in a Q385: Figure 3-8 Q391: Let D = demand, S = supply, Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents