The Model of Profit-Maximizing Production Decisions Suggests That If Fertilizer

question 23

Multiple Choice

The model of profit-maximizing production decisions suggests that if fertilizer is an important input to rice production,then an increase in the fertilizer price _________ the quantity of rice that farmers _______ to the market at any price,shifting the local rice supply schedule to the ________.

• A) Reduces; supply; left
• B) Increases; supply; right
• C) Increases; demand; left
• D) Reduces; demand; left

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