Assume that suppliers of soybeans experience a change in natural production conditions. The natural growing conditions change from "normal" to "below normal". Which of the following is the best prediction of the impact of this change in production conditions in the soybean market?
A) a decrease in demand for soybeans (demand shifts to the left)
B) no change in either the supply or the demand for soybeans (neither function shifts)
C) an increase in supply of soybeans (supply shifts to the right)
D) a decrease in supply of soybeans (supply shifts to the left)
E) an increase in demand for the product. (demand shifts to the right)
Correct Answer:
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