An increase in supply is shown by:
a) a movement up along the supply curve.
b) a movement down along the supply curve.
c) a rightward shift of the supply curve.
d) a leftward shift of the supply curve.
e) an initial movement up and then down along the same supply curve.
Ans: c) a rightward shift of the supply curve.
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The existence of a deadweight loss associated with a monopoly can be seen because
A) consumers are willing to pay more for the last unit of output than it costs to produce. B) the cost of the last unit produced is more than consumers are willing to pay for it. C) the producer surplus is larger than in a competitive market. D) None of the above.
The contact points where the terms of forward contracts are set are known as:
a. the underlying markets. b. the derivative markets. c. the over-the-counter markets. d. the futures exchange.