Exhibit 7-20 -In Exhibit 7-20, the Movement from CD to AB Might

question 51

Multiple Choice

Exhibit 7-20
-In Exhibit 7-20, the movement from CD to AB might reflect a(n)

• A) increase in the prices of both labor and land
• B) decrease in the amount the producer can spend
• C) increase in the price of labor and a decrease in the price of land
• D) decrease in the price of labor and an increase in the price of land
• E) increase in the amount the producer can spend

---

Definitions:

Concurring Opinions

Judicial opinions that agree with the overall conclusion of the majority in a court ruling but may differ on reasoning or legal principles.

Binding Legal Principle

A legal rule or doctrine that must be followed by lower courts, or as part of a contract, must be adhered to by the parties involved.

Court's Decision

A court's decision is the final judgment or order issued by a court of law regarding a case, determining the resolution of legal disputes.

Holding

The binding legal principle, or precedent, that is drawn from the court’s decision in a case.