In the figure above, an increase in the supply of oil would result in a movement from

A) point a to point e.
B) point a to point b.
C) point a to point c.
D) point a to point d.

B

Economics

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Which of the following leads to an increase in the quantity supplied but not an increase in supply?

A) an increase in the product's price B) a decrease in the costs of production C) an advance in the technology used to produce the good D) an increase in the number of firms producing the good or service E) an increase in the price of another product that the suppliers can produce

Economics

The economic way of thinking includes:

A) attention paid to the opportunity costs involved in any choice. B) the assumption that individuals choose to average out some objective. C) concern with the biological make up of decision makers. D) emphasis on how choices affect total values rather than marginal values.

Economics