If a supply curve shifts rightward, this means
A) suppliers are willing and able to offer less of the good for sale at every price.
B) suppliers are willing and able to offer more of the good for sale at every price.
C) quantity supplied is greater at every price.
D) suppliers are willing and able to offer more of the good for sale only at a particular price.
E) b and c
E
You might also like to view...
Refer to A Negative Externality Problem. According to Pigou, the socially optimal level of production is
Demand for a good is given by Q = 100 - P. The private marginal cost of production is MCP = 10 + Q. There is a $10 per unit negative production externality in this situation. a. 0 units. b. 30 units. c. 40 units. d. 45 units.
Refer to Figure 8.5. An efficiency wage in this economy would be represented by a real wage of ________ and an employment level of ________
A) w1; L1 B) w1; L2 C) w2; L1 D) w2; L3
In economics
A) both resources and wants are limited. B) both resources and wants are unlimited. C) resources are limited but wants are unlimited. D) resources are unlimited but wants are limited.
When a resource used in the production of a good sold in a competitive market is available in only limited quantities, the long-run supply curve is likely to be upward sloping
a. True b. False Indicate whether the statement is true or false