If Good Growing Conditions Increase the Supply of Strawberries and Hot

question 413

Multiple Choice

If good growing conditions increase the supply of strawberries and hot weather increases the demand for strawberries, the quantity of strawberries bought

• A) increases and the price might rise, fall or not change.
• B) increases and the price rises.
• C) doesn't change and the price falls.
• D) doesn't change and the price rises.

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Definitions:

Economic Profits

The gap between what a business earns in total and what it spends, factoring in both out-of-pocket and assumed costs.

Diamond Rings

Jewelry pieces featuring diamonds set in rings, commonly used as a symbol of commitment in engagements and weddings.

Quantity Supplied

The amount of a good that producers are willing and able to sell at a given price over a specific time period.

No Close Substitutes

A market condition where a product or service has no similar alternatives close enough to serve as a replacement, enhancing its unique value.