The discovery of a new fertilizer will shift the ___________ curve for carrots, leading to a ___________ equilibrium price.

Alright, here we go. The discovery of a new fertilizer will shift the blank curve for carrots leading to a blank equilibrium price. Alright, so new fertilizer, do we think that's going to affect supply or demand? Well I don't think the customers are gonna be too worried about the fertilizer, so this is actually going to affect the supply side, right, and I'm assuming that this new fertilizer is a good thing, right. This is like an increase in technology. They didn't make it clear in the question, but you can kind of infer that this is gonna be a positive thing, right? They discovered a new fertilizer, it's not like they discovered a worse fertilizer, they're discovering a better fertilizer. So this is gonna be a situation where our technology increased, right, or maybe our input prices decreased. Either way, we're going to end up with the same answer. It's a good thing happening for supply, so supply is going to shift to the right. So we did get our first answer right because we are dealing with supply here, so this blank is gonna be supply. So we've already narrowed it down to C or D. And if you're completely lost, at least you've got that 5050 shot there. Let's go ahead and put this on a graph and we can see whether the equilibrium price is gonna increase or decrease. So here's our original situation, our original demand, our original supply. Our supply shifts to the right, and now let's go ahead and analyze our situation. So that was our original, Here's our new. Our price before was here and our price now is here, so the price has decreased. Right? Let's go ahead and see what happens to quantity just for just for fun. Quantity 1 was here, quantity 2 is here, the quantity increased, it's just asking us about price. The price has decreased, so the answer is gonna be d, supply and a lower equilibrium price. Cool, let's move on.

The discovery of a new fertilizer will shift the ___________ curv...

1. Introduction to Macroeconomics1h 57m

2. Introductory Economic Models59m

3. Supply and Demand3h 43m

4. Elasticity2h 26m

5. Consumer and Producer Surplus; Price Ceilings and Price Floors3h 40m

6. Introduction to Taxes1h 25m

7. Externalities1h 3m

8. The Types of Goods1h 13m

9. International Trade1h 16m

10. Introducing Economic Concepts49m

11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)1h 37m

12. Unemployment and Inflation1h 22m

13. Productivity and Economic Growth1h 17m

14. The Financial System1h 37m

15. Income and Consumption52m

16. Deriving the Aggregate Expenditures Model1h 22m

17. Aggregate Demand and Aggregate Supply Analysis1h 18m

18. The Monetary System1h 1m

19. Monetary Policy1h 32m

20. Fiscal Policy1h 0m

21. Revisiting Inflation, Unemployment, and Policy46m

22. Balance of Payments30m

23. Exchange Rates1h 16m

24. Macroeconomic Schools of Thought40m

25. Dynamic AD/AS Model35m

26. Special Topics11m

The discovery of a new fertilizer will shift the _ curve for carrots, leading to a _ equilibrium price.

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