The law of supply states that other things remaining the same, a decrease in the price of a kayak leads to
A) a decrease in the supply of kayaks.
B) a decrease in the quantity of kayaks supplied.
C) an increase in the supply of kayaks.
D) an increase in the quantity of kayaks supplied.
E) an increase in the supply of kayaks and a decrease in the quantity of kayaks supplied.
B
You might also like to view...
As word processing on personal computers expanded, sales of typewriters began to disappear. Which of Porter's competitive forces does this event demonstrate?
A) bargaining power of buyers B) bargaining power of suppliers C) competition from substitute goods or services D) the threat of competition from new entrants
Which of the following are criticisms of voucher programs?
a. They do not allow government to exercise enough control over education finance. b. Exclusionary admission standards under a voucher program would be unjust. c. Vouchers might be used at sub-standard schools. d. all of the above e. b and c