Question: answer the question, need answer only Time left 1' OWN 21 Suppose income increases. Choose the correct statement, Not yet answered k a The equilibrium

 answer the question, need answer only Time left 1' OWN\" 21

answer the question, need answer only

Suppose income increases. Choose the correct statement, Not yet answered k a

Time left 1' OWN\" 21 Suppose income increases. Choose the correct statement, Not yet answered k a The equilibrium price of turnips fails if a turnip is an inferior good. Mar ed out or 7 000 b The equilibrium price of turnips rises if a turnip is an inferior good. t' rm c. The equilibrium quantity of turnips decreases if a turnip is an inferior good, ~ R Gumbo\" d The supply of turnips decreases whether or not a turnip is an inferior good 9 Both A and C. \""*\" 22 If a shortage exists in a market, the natural tendency is for: Not yet answered . a. demand to increase. Marked out oi _ . 1000 b. price to Increase. ', Hag c. quantity supplied to decrease. {me-din" dc no change in the market. e. None of the above Ques'i'm 23 Which of the followung events leads to a rise in the price of oranges? Not yet answered , c . . V A a rise in the price of apples if apples and oranges are substitutes Ma'keo out of T 000 a scientific discovery that oranges cause hair loss a decrease in income if oranges are a normal good good growing weather in Florida a b c. d e a technological improvement in the production of oranges

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