24 Question (a point) a See page 102 v 1st attempt Assume that the electricity f

Question

24 Question (a point) a See page 102 v 1st attempt Assume that the electricity from nuclear power has become a preferred source of electricity electricity produced by burning coal. At the nuclear power. What are the consequences? because it is cleaner than same time, new regulations make it more expensive to produce electricity from Choose one: A. The demand curve for nuclear power will shift to the right, and supply for nuclear power will shift to the right. The result wil be an increase in both the equilibrium quantity and price for nuclear power. B. The demand curve for nuclear power will shift to the right, and the supply of nuclear power will shift to the ieft. The result will be an unknown change in the equilibrium price and an increase in the equilibrium quantity The demand curve for nuclear power will shift to the right, and the supply of nuclear power will shift to the left. The result will be a rise in the equilibrium price but an unknown change in the equilibrium quantity O D. The demand curve for nuclear power will shift to the left, and the supply of nuclear power will shift to the right. The result will be an unknown change in the equilibrium price and a decrease in the equilibrium quantity 4 /32

Explanation / Answer

Ans) C is the correct option. The demand curve for nuclear power will shift right and the supply of nuclear power will shift to the left. The result will be a rise in the equilibrium price but an unknown change in the equilibrium quantity.

Because nuclear power is the most preferred source of electricity si people will demand it more and demand curve will shift to the right. The nuclear power is expensive so the supply will decrease and shifts leftward so the equilibrium quantity will increase and the change in price is unknown.

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