Which of the following will lead to a decrease in supply of a good?
a. an increase in the price of the good
b. an increase in consumer incomes
c. an increase in the price of an important resource used to produce the good
d. a technological advance that lowers the cost of producing the good
C
Economics
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During the short-run period of the production process, a firm will be:
A. unable to vary any of its factors of production. B. able to vary some of its factors of production. C. able to vary all of its factors of production. D. able to vary the size of its plant.
Economics
Why does perfect competition shun advertising? Does advertising benefit a monopoly?
What will be an ideal response?
Economics