When producers anticipate that the price of their product will increase in the future
A) the supply curve will shift to the right.
B) the supply curve will shift to the left.
C) the current production will move along on the supply curve.
D) they will immediately lobby Congress to adjust prices now.
Answer: B
Economics
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If economists say, "the price is too high," they mean that:
A) quantity demanded is greater than quantity supplied. B) quantity supplied is greater than quantity demanded. C) the equilibrium price exceeds the current price. D) the price of a good will tend to increase.
Economics
Which of the following must cope with scarcity?
a. individuals b. companies c. governments d. families e. All of the above are correct.
Economics