The Market Price of Apples Is Currently Rising

question 278

Multiple Choice

The market price of apples is currently rising.In a free-market economy,the most likely explanation of this price change is that:

• A)The government has decided to set a higher price so that firms competing in the market make an adequate profit.
• B)There is a shortage in the market for apples.
• C)The supply of money has decreased.
• D)The equilibrium price is lower than the market price.

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Definitions:

Real Feeling

Genuine emotions and sentiments as experienced by an individual, without pretense or fabrication.

Trust

The firm belief in the reliability, truth, ability, or strength of someone or something.

Poorly Done

Executed or performed in a manner that fails to meet the required or expected standards.

Resentment

A feeling of displeasure or indignation at some act, remark, or person regarded as causing injury or insult.