Which of the following increases the supply of a good and shifts its supply curve rightward?
A) a smaller number of producers
B) an increase in the price of the good
C) a higher wage paid to workers in the industry
D) a technological advance in how the good is produced
E) an increase in the cost of the resources used to produce the good
D
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The five competitive forces model was developed by
A) Michael Spence. B) John Nash. C) Porter Smith. D) Michael Porter.
The O in OLI theory stands for ownership, and the asset owned can be tangible or intangible
Indicate whether the statement is true or false
An increase in the income of bus riders, accompanied by a simultaneous increase in the wages of the bus drivers causes, the price for bus rides(an inferior good) _____________ and the quantity demanded for bus rides ____________
a. Decreases; decreases b. Increase; increases c. Uncertain, Decreases d. Uncertain, Increases
Whether or not policymakers should try to make our society more egalitarian is largely a matter of
a. economic efficiency. b. political philosophy. c. egalitarian principles. d. enhanced opportunity.