According to a Supply and Demand Model for Apples,if the Average

question 166

Multiple Choice

According to a supply and demand model for apples,if the average household income decreases at the same time 10 apple orchards go out of business,one would expect the equilibrium

• A) price of apples to increase and the equilibrium quantity of apples in the market to decrease.
• B) price of apples to be indeterminate and the equilibrium quantity of apples in the market to increase.
• C) quantity of apples in the market to be indeterminate and the equilibrium price of apples to increase.
• D) quantity of apples in the market to decrease and the equilibrium price of apples to stay the same.
• E) quantity of apples in the market to decrease and the equilibrium price of apples to be indeterminate.

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Definitions:

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Comprehensiveness

in the evaluation of comparisons, is the extentto which a comparison captures a greater number of central oressential features

Scientific Theories

Comprehensive frameworks that explain observable phenomena and predict future events, based on empirical evidence and repeated testing.

Natural Science

The study of the physical world, phenomena, and the rules that govern them, through observation and experimentation.