Referring to the Previous Question,what Will Happen to the Equilibrium

question 79

Multiple Choice

Referring to the previous question,what will happen to the equilibrium price and quantity of cars?

• A)They will stay the same as domestic producers replace the cars once imported.
• B)The shortage will cause the equilibrium price to increase and equilibrium quantity will decrease.
• C)The surplus will cause equilibrium price to decrease and equilibrium quantity to increase.
• D)The shift in the demand curve will cause equilibrium price to increase and quantity to increase.

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Definitions:

Wheat Yields

The quantity of wheat produced per unit of land area, an important metric for evaluating agricultural productivity and economic viability for farmers.

Total Revenues

The full amount of income generated by the sale of goods or services before any expenses are subtracted.

Government Program

refers to an official initiative or project established and funded by a government to achieve specific goals or provide certain services to its citizens.

Land Under Cultivation

Land that is actively used for the production of crops and agricultural goods.