Studies Show That the Demand Curve for Peas Has Shifted

question 103

Multiple Choice

Studies show that the demand curve for peas has shifted over the years.Which of the following explanations would you reject first?

• A)The price of string beans has changed.
• B)The demand for corn has changed.
• C)The demand for string beans has changed.
• D)The income of consumers has changed.
• E)The price of peas has changed.

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Definitions:

Inheritance

Assets or property received from someone who has passed away, often as dictated by a will or the laws of intestacy.

Investment

Assigning funds with the goal of achieving returns or making a profit.

Compounded Annually

interest calculation method where the interest is added to the principal once a year.

Interest

The cost of borrowing money, calculated as a percentage of the amount borrowed.