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:

Sampling Units

The units selected for study.

Geographic Units

Specific, defined areas used for statistical, administrative, or other geographic purposes.

Sampling Error

The error that occurs due to differences between the sample selected for a study and the overall population, which can affect the generalizability of results.

Sampling Judgment

A method of selecting participants or subjects for a study based on the researcher's knowledge and judgement.