Question

Following the release of a new study showing even more benefits to eating broccoli economists expect...

Following the release of a new study showing even more benefits to eating broccoli economists expect *

that both the price and quantity of broccoli will decrease.

a shortage of broccoli until the price rises.

a surplus of broccoli until the price falls.

the supply of broccoli will increase immediately.

Homework Answers

Answer #1

From the given statement it can be said that eating broccoli will leads to more benefit then it will cause more demand in the market and there is a shift of demand curve to the right

when there is excess demand as compare to supply in the market then this will lead to shortage of broccoli until the price rises to the equilibrium

a surplus generated when there is more supply as compared to demand

so the correct answer here is option B

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A new study is released showing that blueberries have more health benefits than previously known. Simultaneously,...
A new study is released showing that blueberries have more health benefits than previously known. Simultaneously, a drought in blueberry-growing areas causes bushes to bear less fruit. After both of these shocks, the market saw fewer blueberries being traded at a higher price. So, demand ______, supply ______, and the magnitude of the demand shift was _______ the magnitude of the supply shift. a. increased, increased, greater than b. increased, decreased, less than c. decreased, increased, less than d. increased,...
1. The market for toasters is a competitive market. Suppose that the quantity of toasters supplied...
1. The market for toasters is a competitive market. Suppose that the quantity of toasters supplied per year depends as follows on the price of a toaster: Price (dollars per toaster) Quantity supplied (millions of toasters) 32 4.0 34 5.0 36 5.5 38 6.0 40 6.5 a. On a piece of graph paper, plot the supply curve for toasters. b. How does the quantity supplied of toasters change when the price changes? 2. The market for toasters is a competitive...
The coffee market is in equilibrium. Suppose we observe that coffee growers are using more pesticides...
The coffee market is in equilibrium. Suppose we observe that coffee growers are using more pesticides to increase coffee production. At the same time, we hear that the price of tea, a substitute for coffee, is rising. Which of the following is a reasonable prediction for the new price and quantity of coffee? Price rises, but quantity is ambiguous. Price falls, but quantity is ambiguous. Price is ambiguous, but quantity rises. Price is ambiguous, but quantity falls. Both price and...
Answer the following 5 questions? Explain why you chose the answer 1. Public Choice economists explain...
Answer the following 5 questions? Explain why you chose the answer 1. Public Choice economists explain the existence of tariffs as being the result of: A. the real cash balance effect B. Comparative Advantage C. the special interest group effect D. the difference between complementary and substitute goods 2. Which of the following goods or services is almost like a public good? A. A residential apartment in New Orleans B. Police protection of Boston residents by the Boston Police department...
1. Recall the classical economists and one of their favorite theories: the quantity theory of money...
1. Recall the classical economists and one of their favorite theories: the quantity theory of money and monetary neutrality. The theory is expressed as an equation as follows: M x V = P x Y. What does V stand for? a. the value of the domestic currency b. the velocity of money c. the virtual reality of the universe d. the velocity of investment spending in the economy 2. Following up on question 1 above, what does Y represent? a....
1. If the social cost of producing honey is greater than the private cost, then: (a)...
1. If the social cost of producing honey is greater than the private cost, then: (a) a positive externality exists. (b) a negative externality exists. (c) honey production should be subsidised. (d) honey is healthful and more should be produced. (e) honey is manufactured more efficiently by external producers. 2. If France has a comparative advantage in producing cheese and it allows trade: (a) everyone in the country benefits. (b) everyone in the country loses. (c) the gains of the...
1. During a recession (downturn) in the economy firm lay off workers and the unemployment rate...
1. During a recession (downturn) in the economy firm lay off workers and the unemployment rate rises. During these times we can expect the demand for normal goods to ____ and the demand of inferior goods to ____. a.) decrease : increase b.) decrease : decrease c.) increase : increase d.) increase : decrease 2. You observe the price of a good rises and the quantity sold decreases. This is the result of a.) a decrease in demand b.) an...
Principles of Marcoeconomics Please check my answers. Which of the following will result if there is...
Principles of Marcoeconomics Please check my answers. Which of the following will result if there is an increase in the demand for house You answered The quantity of home loans will increase. The interest rate on the home loans will increase. The interest rate on home loans will decrease. The quantity of home loans will decrease. 2. If a maximum interest rate for credit cards is set about the equilibrium interest rate. Interest rates will increase You answered interest rates...
Consider the market for tea. Which of the following scenarios would definitely result in an increase...
Consider the market for tea. Which of the following scenarios would definitely result in an increase in the price of tea? a. A new study is published explaining the benefits of tea, and at the same time a new technology allowing for - more efficient tea farming is discovered. b. The price of coffee falls, and at the same time a new technology allowing for more efficient tea farming is discovered c. Consumers expect the price of tea to fall...
Consider the market for tea. Which of the following scenarios would definitely result in an increase...
Consider the market for tea. Which of the following scenarios would definitely result in an increase in the price of tea? a. A new study is published explaining the benefits of tea, and at the same time a new technology allowing for - more efficient tea farming is discovered. b. The price of coffee falls, and at the same time a new technology allowing for more efficient tea farming is discovered c. Consumers expect the price of tea to fall...