From 1970 to 2010, the Real Price of Eggs Decreased

question 112

Multiple Choice

From 1970 to 2010, the real price of eggs decreased and the total annual consumption of eggs decreased. Which of the following would cause an unambiguous decrease in the real price of eggs and an unambiguous decrease in the quantity of eggs consumed?

• A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs.
• B) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs.
• C) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.
• D) none of the above

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Definitions:

Articles of Partnership

A legal document that specifies the rights, responsibilities, and operational arrangements for partners in a partnership business.