The Following Figure Shows the Market for Grapefruit (In Kilos)

question 54

Multiple Choice

The following figure shows the market for grapefruit (in kilos) :

-Refer to the diagram above to answer this question.If factor prices were to rise,causing the supply to change by 12 kilos,what will be the new equilibrium price and quantity?

• A)$2.25 and 36 kilos
• B)$2.75 and 20 kilos
• C)$2.75 and 44 kilos
• D)$3.25 and 28 kilos

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Definitions:

Locum Tenens

A Latin phrase that means “to hold the place of, to substitute for.” In the health care context, a locum tenens is a physician who substitutes temporarily for another.

Substitute

A person or thing acting or serving in place of another, often temporarily or as an alternative.

Deposition

A deposition involves a live person being questioned under oath by an attorney who is party to the proceeding and takes place prior to the case going before the judge (and jury).

Under Oath

A legal condition whereby an individual promises to tell the truth in a court of law or other legal proceeding.