Suppose That a Severe Freeze Destroys a Sizable Portion of the Lettuce

question 161

Multiple Choice

Suppose that a severe freeze destroys a sizable portion of the lettuce crop.As a result:

• A)quantity supplied will decrease, equilibrium price will increase and, demand will decrease.
• B)supply will decrease, equilibrium price will fall and, demand will increase.
• C)supply will decrease, equilibrium price will increase and, quantity demanded will decrease.
• D)cannot be determined from the information given.

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Definitions:

Personal Traits

Enduring characteristics or qualities that describe an individual's behavior across different situations.

Social Relationships

Connections between individuals in a society structured around mutual interests, shared activities, roles, and social expectations.

Uncertainty-Identity Theory

A social psychological theory suggesting that individuals join and strongly identify with groups to reduce feelings of uncertainty about themselves and the world.

Social Norms

Unwritten rules that govern the behavior of individuals within a society or group, dictating what is considered acceptable or unacceptable.