Suppose That Today the Market for Lima Beans Is in Equilibrium.Tomorrow

question 87

Multiple Choice

Suppose that today the market for lima beans is in equilibrium.Tomorrow both the supply and demand curves for lima beans will shift to the left.As a result,the equilibrium price __________ and the equilibrium quantity will __________.

• A) will fall;fall
• B) will fall;rise
• C) will rise;fall
• D) cannot be determined;fall
• E) cannot be determined;rise

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Definitions:

Sea Levels

The average level of the surface of the ocean measured along a shoreline.

Carbon Dioxide Emissions

The emission of carbon dioxide into the air, mainly through the combustion of fossil fuels, playing a significant role in global warming and alterations in climate patterns.

Phosphorous

A reactive chemical element with the symbol P, essential for life but also a pollutant at high concentrations.

Methane

A potent greenhouse gas, CH4, that contributes to global warming, released through natural processes and human activities like agriculture.