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In the mid-1990's fashion trends toward loose-fitting, casual cotton clothing drove up the price of domestic cotton. In response, existing domestic farmers switched over from growing soybeans and rice to growing cotton. What best explains the effect of these events?
1. Supply of cotton shifted to the right, price declined and quantity increased.
2. Supply of cotton shifted to the left, price increased and quantity decreased.
3. Demand and supply for cotton shifted to the left, quantity increased and price decreased.
4. Demand for cotton shifted to the right, price increased, supply curve shifted to the right, and price decreased in the longer run.
microeconomics is the study of economics at the individual or micro level. one of the most well known microeconomic
Current concerns stem from the fear that if medicare remains an open ended program, its share of the federal budge will continue to increase over time. Prepare a brief memo examining "a freeze in physicians' fees and a requirement of mandatory ass..
expectations on how rivals will respond are important considerations when a firm decides to change the price it charges its customers, no firm controls more than a 10% share of the market
yearnominal gdpreal gdpgdp deflator20023055nbsp942003nbsp3170100200434103280nbsp2005nbsp3500108i complete the above
What is your understanding of demand? What are the determinants of demand? Please provide example (market, event, and effect on equilibrium).
the price of a first class stamp is .42 cents in 2009. the price of the same first class stamp in 1975 was .13 cents.
Method in which Herb could use a cost-benefit analysis to argue for or against an expansion
write a report about how foreign direct investment influences the wages and income in vietnam then compare it to
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Specifically, you should help Nick obtain key market insights through marketing research. In addition, you should help him to determine which countries besides the U.S. (the primary target market) should be targeted to make the most out of his new..
What is the cost to government for imposing the estate tax and what is the cost to the taxpayer for imposing the estate tax on him?
equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand.
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