Which of the following will increase the supply of a product?
A) an increase in the price of the product
B) an increase in the demand for the product
C) an increase in the number of sellers
D) a decrease in the demand for the product
E) an increase in the price of inputs
C
You might also like to view...
Suppose penalties are imposed on both buyers and sellers of marijuana, but the cost of breaking the law to sellers is greater than that to buyers
This measure will ________ the equilibrium price of marijuana and ________ the equilibrium quantity of marijuana sold. A) lower; increase B) raise; increase C) raise; decrease D) not change; will decrease
When we calculate the price elasticity of demand, we use percentages of the average price and the average quantity in order to get the same value for the elasticity regardless of whether the price falls or rises
Indicate whether the statement is true or false
An increase in which of the following will shift the economy's productivity (GDP/L) curve?
a. the quantity of laborers b. technology c. capital d. output e. consumption
Refer to the information provided in Figure 28.7 below to answer the question(s) that follow.
Figure 28.7Refer to Figure 28.7. If the economy is at Point A, a sudden increase in the price of oil without any change in the aggregate demand shifts the short-run Phillips curve (SRPC) from
A. SRPC3 to SRPC1. B. SRPC2 to SRPC1. C. SRPC1 to SRPC2. D. SRPC1 to SRPC3.