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Exhibit 4-2 Consider Exhibit 4-2 Which Shows 3 Supply

Question 117

Multiple Choice

Exhibit 4-2 Exhibit 4-2 Consider Exhibit 4-2 which shows 3 supply curves for milk.Which of the following would shift the supply curve for milk from S<sub>1</sub> to S<sub>2</sub>? A) an increase in the price cattle feed B) the expectation of a higher price in the near future C) an increase in the price of milk D) an increase in the price of beef E) a decrease in the number of dairy farmers Consider Exhibit 4-2 which shows 3 supply curves for milk.Which of the following would shift the supply curve for milk from S1 to S2?


A) an increase in the price cattle feed
B) the expectation of a higher price in the near future
C) an increase in the price of milk
D) an increase in the price of beef
E) a decrease in the number of dairy farmers

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