In Recent Years, the World Demand Curve for Copper Shifted

question 76

Multiple Choice

In recent years, the world demand curve for copper shifted rightward due to continued economic growth in China and other emerging economies. Also, the costs of extracting the copper increased due to higher energy prices. As a result, we observed:

• A) higher equilibrium copper prices and unambiguously lower quantities.
• B) higher equilibrium copper prices and unambiguously higher quantities.
• C) higher equilibrium copper prices and either higher or lower quantities.
• D) lower equilibrium copper prices and either higher or lower quantities.

---

Definitions:

Trading Ports

Coastal towns or cities where goods are imported and exported, playing crucial roles in global and regional trade networks.

West Coast

Refers to the westernmost coastal states of the United States, typically including California, Oregon, and Washington, known for their distinct culture and economies.

Far East

A geographical term used to describe East Asian countries, including China, Japan, South Korea, and others, highlighting their location relative to Europe.

Civil Disobedience

A form of protest where individuals refuse to obey certain laws, demands, or commands of a government or occupying power, typically in a nonviolent manner, to achieve a political objective.