If E Were the Old Equilibrium in the Market for Wheat

question 12

Multiple Choice

If E were the old equilibrium in the market for wheat in the figure below, and E' the new one, which of the following could have caused the change?

• A)Consumer income rose, causing a supply shift.
• B)Bad weather caused a supply shift.
• C)Consumer income rose, causing a demand shift.
• D)Supply and demand both shifted.
• E)None of the above are plausible descriptions.

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Metaphors

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