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From 1970 to 2010, the real price of eggs decreased and the total annual consumption of eggs decreased. Which of the following would cause an unambiguous decrease in the real price of eggs and an unambiguous decrease in the quantity of eggs consumed? Select one:

a. A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs.

b. A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.

c. none of the other choices is correct

d. A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs.

Respuesta :

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Answer:

The correct answer would be Option C, None of the other choices are correct.

Explanation:

Demand and supply curves are plotted on a graph containing quantity and price of the product on x axis and y axis respectively.  The intersection of demand and supply curves give us the accurate quantity at an accurate price of the product. Any shift of the curve will result in the surplus or shortage of the product. So in this question, it is asked the reason for the decrease in the quantity of eggs consumed. So the answer is A shift to the right in the supply curve for eggs and a shift to the left in the demand curve for eggs will result in an unambiguous decrease in the quantity of eggs consumed.

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