When economists say that the supply of a product has declined, they
means one. the supply curve has shifted to the left. B the price of the product has decreased and, therefore,
suppliers produce less of the product. vs. growers are now willing to sell more of this product
all possible prices. D. the supply curve has shifted to the right. If a major hurricane destroyed the sugar cane crop in
Louisiana, there would be one. reduction in the supply of sugar cane. B increase in the supply of sugar cane. vs. decline in demand for sugar cane. D. an increase in the demand for sugar cane If there is a surplus on a market, we know that the real price
it’s a. above the equilibrium price and the quantity supplied is greater than
the quantity demanded. B above the equilibrium price and the quantity demanded is greater than
quantity supplied. vs. lower than the equilibrium price and the quantity demanded is greater than
quantity supplied. D. lower than the equilibrium price and the quantity supplied is greater than
the quantity demanded.
Answer 1
Answer:-
Option (A) “the supply curve has shifted to the left” is the
right answer.
When economists say
the supply of a product has decreased, it means that the supply curve
moved to the left.
Answer:-
Option (A) “reducing sugar cane supply” is the correct one
Answer.
If a big hurricane was
destroy the sugar cane crop in Louisiana, there would be a
reduction in the supply of sugar cane.
Answer:-
Option (A)” above the equilibrium price and the quantity offered is
greater than quantity requested” is correct
Answer.
If there is a surplus in a
market we know that the real price is higher than the equilibrium price and
the quantity supplied is greater than the quantity
required.