In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right. What could have caused this? a. a rise in income, assuming that peanut butter is an inferior good O b. a shift in preferences toward peanut butter c. a rise in the price of peanuts O d. a fall in the price of peanuts

Brief Principles of Macroeconomics (MindTap Course List)
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Author:N. Gregory Mankiw
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Chapter4: The Market Forces Of Supply And Demand
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In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right. What could have caused this?
a. a rise in income, assuming that peanut butter is an inferior good
O b. a shift in preferences toward peanut butter
c. a rise in the price of peanuts
d. a fall in the price of peanuts
Transcribed Image Text:In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right. What could have caused this? a. a rise in income, assuming that peanut butter is an inferior good O b. a shift in preferences toward peanut butter c. a rise in the price of peanuts d. a fall in the price of peanuts
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