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23 August, 18:54

A new medical report informs the public that eating carrots improves vision. Which of the following outcomes is more likely to happen? a. demand for carrots will increase, but their price will decreaseb. both demand for carrots and their price will decreasec. both demand for carrots and their price will increased. demand for carrots will decrease, but their price will increasee. demand for carrots will increase, but their price will not change

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  1. 23 August, 19:06
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    The correct answer is the option C: Both demand for carrots and their price will increase.

    Explanation:

    To begin with, the theory of suppy establishes that there a direct proportional relationship between the supply of a good and its price, stating that if a the price of a product increases then the supply of it will increase as well.

    Secondly, in the case where a particular element encourages people to increase the demand of a good, that action will impact in the rise of the price as well due to the fact that if the supply runs out of the good because of the demand, then it will increases its supply and inmediately the price of that good will increase as well.

    However, to clarify, all that scenario is possible in a competitive market such as the carrots markets and where no other elements vary their value.
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Home » Business » A new medical report informs the public that eating carrots improves vision. Which of the following outcomes is more likely to happen? a. demand for carrots will increase, but their price will decreaseb.
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