What Would Happen to the Equilibrium Price and Quantity of Peanut

question 115

Multiple Choice

What would happen to the equilibrium price and quantity of peanut butter if the price of peanuts went up,the price of jelly fell,fewer firms decided to produce peanut butter,and health officials announced that eating peanut butter was good for you?

• A)Price will fall,and the effect on quantity is ambiguous.
• B)Price will rise,and the effect on quantity is ambiguous.
• C)Quantity will fall,and the effect on price is ambiguous.
• D)Quantity will rise,and the effect on price is ambiguous.

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Definitions:

Extraversion

A personality trait that describes individuals who are outgoing, energized by being around other people, and tend to seek stimulation in the external world.

Sociable

Characteristic of being inclined to seek social interactions and enjoy spending time with others.

Positive Outlook

A mental attitude characterized by optimism and hope, focusing on favorable aspects of any situation.

Impulsive

Acting on or inclined to act on one's impulses rather than careful thought, often with disregard to the consequences.