If the price of cotton used in making blue jeans increases, which of the following will occur?
A) There will be a movement along an unchanged supply curve for jeans.
B) The supply curve for jeans will shift rightward.
C) The supply curve for jeans will shift leftward.
D) There will be a rightward shift in the supply curve for jeans, followed by a movement along the supply curve.
C
You might also like to view...
Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, if the market quantity demanded is 5, the price must be
A) $3. B) $6. C) $9. D) $12.
Regulation of a natural monopoly that forces it to price and produce as if it were a competitive firm results in
A) the market being instantly competitive. B) higher profits for the monopoly. C) economic losses for the monopoly. D) a highly unstable marketplace.