o https//moodle2018.coastal.edu/mod/fti/hiew.phpid-177673 Score: 0 of 2 pts 32 o

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o https//moodle2018.coastal.edu/mod/fti/hiew.phpid-177673 Score: 0 of 2 pts 32 of 46 (39 complete) HW Score: 76.79%, 43 of 56 pts 4.2-52 Question Help in the figure, if point "a represents the oniginal equilibrium and point "b the new equilibrium, then Price (dollars per bushel of corn Si O A. there has been an increase in supply O B. there has been an increase in demand O C. there has been a change in the quantity supplied and no change in supply O D. Both answers B and C are correct O E. Both answers A and B are correct Quantity (millions of bushels of corn per year) Click to select your answer and then click Check Answer Clear All Check Answer Moodle Accessibility Specification

Explanation / Answer

Answer
Option A
There has been an increase in supply
As the graph shows the S1 shits to S2 which shows the supply curve shifts to right and what happens when the supply increases.

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Answer
Option B
The decrease in price is movement along the supply curve which decreases the quantity supplied at the same supply curve
and other components are held constant.

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