A technological improvement in apple production will: A. Increase the demand for apples, lowering the equilibrium price but raising the equilibrium quantity of apples B. Increase the supply apples, raising the equilibrium price and quantity of apples. C. Increase the supply of apples, raising the equilibrium price but lowering the equilibrium quantity of apples. D. Increase the supply of apples, lowering the equilibrium price but raising the equilibrium quantity of apples. E. Increase the supply of apples, lowering the equilibrium price and quantity of apples.

A severe hurricane has damaged this year's banana crops. The initial effect on the banana market is a  a. decrease in the demand for banana.  b. decrease in the supply for banana.  c. decrease in both the demand and supply of banana.  d. rightward movement along the demand curve for banana.

Practice with Determinants: SUPPLY Supply 1-4 1. The following headline appeared in the London Times, "England's sheep population nearly destroyed by famine!" How will this affect the supply of wool around the world? Show the shift in supply and name the determinant. "Name the determinant: 2. In an effort to encourage economic growth, the United States government has cut corporate income taxes by 20%. How will this affect firms' ability to supply their products? Show the shift in supply and name the determinant. "Name the determinant:

Wichita — Farmers in Kansas, the biggest US producerof wheat, are abandoning their crops damaged by severedrought and cold.Some are spraying wheat fields with crop-killingchemicals and claiming insurance payouts in the beliefthat it is not worth harvesting the little grain that thereis, Reuters found on a three-day tour of the state. Othergrowers let cattle graze on the dismal-looking fields.Abandoning fields will reduce the crop of the world’sfifth-largest wheat exporter, with stocks expected to fallto a 16-year low. Large-scale abandonment deals aneconomic blow to farm towns and force wheat buyersto adjust procurement plans by buying the staple grainelsewhere.Nationally, winter-wheat farmers plan to abandon 33%of the acres they planted, the highest percentage sinceWorld War 1, the US department of agriculture said ina May 12 report.Kansas farmers are expected to abandon about 19% ofthe area planted last autumn, up from 10% in 2022 and4% in 2021, according to the report. But farmers,…