ast year, 1000 galions of almond milk (a non dairy product) were sold ata price of $10 Yet, this year, a bad harvest in Caifomia has wiped outa significant part of the aimond harvest. At the same tme, a larger number of people are looking to shift away from dairy products towards non-dairy atematives. Because of these two changee. O. the equilibrum price will increase and change in the equlbrum quantity is unambiguous O. he equtibrium price will decrease but change in the equilbrum quantity is ambiguous O. he change in the equiibrium price is ambiguous, but the equilbrium quantty wil increase O. he equiibrium price will increase but change in the equilbrum quantity is ambiguous
ast year, 1000 galions of almond milk (a non dairy product) were sold ata price of $10 Yet, this year, a bad harvest in Caifomia has wiped outa significant part of the aimond harvest. At the same tme, a larger number of people are looking to shift away from dairy products towards non-dairy atematives. Because of these two changee. O. the equilibrum price will increase and change in the equlbrum quantity is unambiguous O. he equtibrium price will decrease but change in the equilbrum quantity is ambiguous O. he change in the equiibrium price is ambiguous, but the equilbrium quantty wil increase O. he equiibrium price will increase but change in the equilbrum quantity is ambiguous
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 10PA
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Last year, 1000 galions of almond milk (a non dairy product) were sold ata price of $10 Yet, this year, a bad harvest in Caifomia has wiped outa significant part of the aimond harvest. At the same tme, a larger number of people are looking to shift away from dairy products towards non-dairy atematives. Because of these two changee.
O. the equilibrum price will increase and change in the equlbrum quantity is unambiguous
O. he equtibrium price will decrease but change in the equilbrum quantity is ambiguous
O. he change in the equiibrium price is ambiguous, but the equilbrium quantty wil increase
O. he equiibrium price will increase but change in the equilbrum quantity is ambiguous
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