Clancy is skilled at making both bracelets and necklaces. Clancy has no preference between making bracelets or necklaces since he earns the same amount from the two activities. If the selling price of necklaces decreases from $20 to $10, then Clancy's opportunity cost of making bracelets is now profitable than making necklaces. and making bracelets Suppose that the bracelets market consists of several suppliers like Clancy who are skilled at making both bracelets and necklaces. Which of the following is likely to happen to the supply curve of bracelets when the price of a necklaces decreases? It shifts to the left It does not change O It shifts to the right

Clancy is skilled at making both bracelets and necklaces. Clancy has no preference between making bracelets or necklaces since he earns the same amount from the two activities. If the selling price of necklaces decreases from $20 to $10, then Clancy's opportunity cost of making bracelets is now profitable than making necklaces. and making bracelets Suppose that the bracelets market consists of several suppliers like Clancy who are skilled at making both bracelets and necklaces. Which of the following is likely to happen to the supply curve of bracelets when the price of a necklaces decreases? It shifts to the left It does not change O It shifts to the right

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 14CTQ: The rules of politics are not always the same as the rules of economics. In discussions of setting...

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