A merger between two firms in a supplier-purchaser relationship is called a vertical merger

Which of the following would shift the supply curve for energy drinks to the left?

A) a decrease in the expected future price of energy drinks B) an increase in consumer income (assuming that energy drinks are normal goods) C) a decrease in the number of firms that produce energy drinks D) a decrease in the price of an input used to produce energy drinks

When there is a surplus of a product in a market the:

A. price will rise. B. price must be above the equilibrium price. C. producers will expand output and sales will rise. D. price must be below the equilibrium price.