--%>

Equilibrium price of grape jelly problem

Peanut butter, jelly sandwiches and tuna fish sandwiches are replacements. Assume an international agreement decreased the worldwide catch of tuna by half. The equilibrium price of grape jelly would be: (1) Increases while the equilibrium quantity is reduced. (2) Drop/fall while the equilibrium quantity rose. (3) Drop/fall and thus would the equilibrium quantity. (4) Increase, and thus would the equilibrium quantity.

Give the right answer of the above question.

   Related Questions in International Economics

  • Q : Accounts in Balance of Payments or BOP

    Name the accounts in the balance of payments (BOP)? Answer: a. Current account: It exhibits the imports and exports of services and goods and transfer payments.b. Capital Account: It exhibits the assets and li

  • Q : International monetary system safeguard

    safeguard against the crisis of confidence in system explain

  • Q : Wars that have an impact on Global

    I need an outline paper and a 15 page research paper double space on this topic. I have to provide at least 5 cited reports, but not limited to just 5 cites. Professor made comment below. The topic is too broad and I suggest that you focus on a war for which you can get enough economic data to

  • Q : What is BOP The balance of payment

    The balance of payment account (BOP) account is the statement of each and every economic transaction which takes place between a nation and rest of the world throughout a particular period. BOP account generally comprises of (a) Current account and (b

  • Q : Financial crisis in United States

    Question 1: The financial crisis that hit the United States first and then the world economy starting in fall 2007 meant that the future prospects of many firms looked gloomy at best for some time. Comment on the e

  • Q : Tourism services to tourist-Balance of

    In which account of balance of payment tourism services to tourist are involved? Answer: Tourism services to tourist are comprised in current account of Balance of

  • Q : Describe balance of payment Accounts

    Balance of payment Accounts: It is the systematic record of all economic transactions among the residents of a country and rest of the world in a specified period (1-year) of time.

  • Q : Write short notes on autonomous

    distinguish between autonomous transactions and accommodating transactions under balance of payments

  • Q : Key challenges to india's economic

    Identify the key challenges to india's economic development. To what extent the second generation reforms will tackle the current challenges of india's development

  • Q : What is Fixed exchange rate system

    Fixed exchange rate system (or pegged exchange rate system): This is a system in which exchange rate of a currency is fixed by government. This system makes sure stability in the foreign trade and capital movement.