What might cause a decrease in supply today?
A. Sellers' expectations that the product's price will fall in the future.
B. An increase in the product's own price.
C. A decrease in the price of one of the inputs used to make the product.
D. Sellers' expectations that the product's price will rise in the future.
Answer: D
You might also like to view...
A photograph processing machine company requiring customers that buy a processing machine to purchase chemicals and photographic paper from them is an example of
A) bundling. B) a requirement tie-in sale. C) quantity discrimination. D) a two-part tariff.
Reaction lag is the term used to express the fact that some time passes before changes in the money supply are properly translated into changes in real GDP
a. True b. False Indicate whether the statement is true or false
Producer surplus measures the benefit to sellers from receiving a price above their costs
a. True b. False Indicate whether the statement is true or false
If firms in a monopolistically competitive market are earning positive profits, then
a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market.