Question for each of the following scenarios determine if, Ask an Expert

Economics

Question: For each of the following scenarios, determine if there is an increase or a decrease in supply for the good in italics.

a. The price of silver increases.

b. Growers of tomatoes experience an unusually good growing season.

c. New medical evidence reports that consumption of organic products reduces the incidence of cancer.

d. The wages of low-skill workers, a resource used to help produce clothing, increase.

e. The price of movie tickets, a substitute for video rentals, goes up.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92289413

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