Suppose that at prices of $1, $2, $3, $4, and $5 for product Z, the corresponding quantities supplied are 3, 4, 5, 6, and 7 units, respectively. Which of the following would increase the quantities supplied of Z to, say, 6, 8, 10, 12, and 14 units at
these prices?
A. Improved technology for producing Z.
B. An increase in the prices of the resources used to make Z.
C. An increase in the excise tax on product Z.
D. Increases in the incomes of the buyers of Z.
Answer: A
Economics
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A) equal 40. B) equal 35. C) equal 15. D) depend on the price of the extra bag.
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Refer to Table 2-16. What is Estonia's opportunity cost of producing one cell phone?
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