32.The graph shows depicts a change in the market for cheese.1082100200300400500Quantity600Supply 1700Supply 2900Which of the following would explain a shift from Supply 1 to Supply 2?OThe price of milk has decreased significantlyOSeveral cheese makers go out of businessOConsumers are eating more cheeseOThe price of coffee increases 31.Consider the market for cheese. Determine whether the following scenarios lead to a shift of the supply curve to the right or the left or neither.✓1. Technology has reduced the cost of producing cheese2. Household income has fallen in recent months3. The cost of the equipment needed to make cheese increased 15%✓4. Cheese makers expect the market to grow and are investingA. Shift to the leftB. Shift to the rightC. No shift

Here, the given graph shows two supply curves that are S1 and S2 in the sheese market. A shift from…

The graph shows depicts a change in the market for cheese. 10 9 100 200 300 400 500 Quantity 600 Supply 1 700 Supply 2 800 900 Which of the following would explain a shift from Supply 1 to Supply 2? The price of milk has decreased significantly OSeveral cheese makers go out of business Consumers are eating more cheese OThe price of coffee increases

The graph shows depicts a change in the market for cheese. 10 9 100 200 300 400 500 Quantity 600 Supply 1 700 Supply 2 800 900 Which of the following would explain a shift from Supply 1 to Supply 2? The price of milk has decreased significantly OSeveral cheese makers go out of business Consumers are eating more cheese OThe price of coffee increases

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 24P

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Similar questions

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