Multiple Choice
Which of the following will NOT cause market supply to increase?
A) an increase in the number of firms supplying the product in the market
B) a change in technology which allows a larger level of production at every price
C) an increase in the costs of resources used to produce the product
D) a decrease in labor costs
Correct Answer:
Verified
Correct Answer:
Verified
Q93: The price of a gallon of gasoline
Q94: If a good is a normal good,
Q95: In economic terminology, an inferior good is
Q96: Mary increases her consumption of Good X
Q97: Distinguish between a change in quantity supplied
Q99: Which of the following is TRUE of
Q100: A demand schedule<br>A) holds all prices constant.<br>B)
Q101: An inferior good is one for which<br>A)
Q102: Which of the following will cause the
Q103: An increase in the price of steel