Suppose the price of a pound of flax seed is currently $1.20 in both Kentucky and West Virginia. Further, suppose there is a decrease in demand for flax seed in Kentucky, but not in West Virginia. Before flax seed sellers are able to adjust the relative quantity of flax seed supplied in the two states, the decrease in demand causes the equilibrium price of a pound of flax seed in Kentucky to change by $0.20. The law of one price suggests that the price of a pound of flax seed will be _____________ in West Virginia after sellers adjust the relative quantity of flax seed supplied in the two states.
Business
Views: 0 Asked: 01-17 21:25:31
On this page you can find the answer to the question of the business category, and also ask your own question
Other questions in category
- Match the following government organizations with their healthcare and/or health information technol...
- A sales agent, employed by the sponsor's first-tier, downstream, or related entity (fdr), submitted ...
- Since converting the firm's inventory to profits is a key function of management, firms use ______ t...
- a comprehensive performance measurement tool that reflects the measures critical to the success of t...
- according to the behavioral approaches to leadership, how should companies create effective managers...
- Spatial layout and functionality increase in importance when:...
- The framers of the constitution wanted ________ to choose the president and vice president....
- Melina manages a team that is all remote. She wants to collaborate with her team to design and build...
- To solve for the present value of a single sum, you need to know the future value, the number of com...
- 4.IExpress algebraically; 12% commission on the profit when