Suppose That a New Advertising Campaign Extolling the Virtues of Apple

question 47

Multiple Choice

Suppose that a new advertising campaign extolling the virtues of apple juice is successful,and a major freeze destroys half of the country's apple crop.What happens to the price and quantity of apple juice?

• A) The equilibrium price of apple juice might rise or fall and the equilibrium quantity of apple juice falls.
• B) The equilibrium price of apple juice might rise or fall and the equilibrium quantity of apple juice rises.
• C) The equilibrium price of apple juice rises and the equilibrium quantity of apple juice might rise or fall.
• D) The equilibrium price of apple juice falls and the equilibrium quantity of apple juice might rise or fall.

---

Definitions:

Summary Function

A feature in applications that performs calculations on a set of values to return a single summary result, like sum or average.

Mathematical Function

A mathematical function is a relation between a set of inputs and a set of permissible outputs, where each input is related to exactly one output.

Query Display

A method or feature in software for showing the results of a database query or search.

Create A Report

The process of gathering data and organizing it into a structured document, often for the purpose of analysis or communication of findings.