Suppose That the Price of Lettuce Used to Produce Tacos

question 206

Multiple Choice

Suppose that the price of lettuce used to produce tacos increases.This change means that the equilibrium price of a taco ________ and the equilibrium quantity ________.

• A) rises; increases
• B) rises; decreases
• C) falls; increases
• D) falls; decreases
• E) does not change; decreases

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Definitions:

Internal Environment

The conditions, entities, events, and factors within an organization that influence its activities and choices.

Yearly Salary Increases

Regular, annual raises in the amount of money an employee receives as compensation from their employer, often reflecting performance or inflation adjustments.

Major Decisions

Significant choices made by individuals or organizations that have a large impact on outcomes or future directions.

Steep Hierarchy

An organizational structure characterized by a pronounced or rigid vertical differentiation and a high level of control at the top.