Multiple Choice
Which of the following would reduce the supply of microcomputers?
A) a technological improvement that lowers the cost of producing the computers
B) higher wage rates for the workers that assemble the computers
C) a reduction in the price of computer chips used to produce the computers
D) a reduction in the price of computers.
Correct Answer:
Verified
Correct Answer:
Verified
Q17: A supply curve is a graphical illustration
Q18: A drought decreases the supply of agricultural
Q19: In economics, the demand for a good
Q21: The _ is the only price where
Q23: If new manufacturers enter the computer industry,
Q24: The demand schedule for a good:<br>A) indicates
Q25: According to the law of supply:<br>A) there
Q26: A change in price of a good
Q27: Price floors and price ceilings often lead
Q149: When quantity demanded decreases in response to