Suppose consumer tastes shift toward the consumption... - Solved MCQs & Answer

4078EconomicsMedium

Suppose consumer tastes shift toward the consumption of apples Which of the following statements is an accurate description of the impact of this event on the market for apples?

AThere is an increase in the demand for apples and a decrease in the supply of apples

BThere is a decrease in the quantity demanded of apples and an increase in the supply for apples

CThere is an increase in the quantity demanded of apples and in the supply for apples

DThere is an increase in the demand and supply of apples.

EThere is an increase in the demand for apples and an increase in the quantity supplied of apples.

Correct answer

E. There is an increase in the demand for apples and an increase in the quantity supplied of apples.

Explanation

The correct answer is There is an increase in the demand for apples and an increase in the quantity supplied of apples..

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