Which of the following will cause an increase market supply?
A. An increase in the price of the good.
B. An increase in demand for the good.
C. A technological innovation that lowers the marginal cost of producing the good.
D. A decrease in the number of firms in the market.
Answer: C
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Keeping $20 in currency to be able to buy gasoline, money is performing which function?
A) medium of exchange B) unit of account C) store of value D) barter mechanism E) symbol of fiat
Panel (b) in Figure 6.1 reflects
a. low interest elasticity of money demand. b. money demand to be highly interest elastic. c. money demand to be completely interest insensitive. d. None of the above
If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1, what is the average cost if 2000 widgets are produced?
A) $2 B) $1.50 C) $1 D) $0.50
In 2008, interest rates on Treasury securities fell even though most other interest rates were rising
a. True b. False Indicate whether the statement is true or false