An advance in technology results in:
a. suppliers offering a larger quantity than before at each given price.
b. suppliers offering the same quantity as before at a lower price.
c. a rightward shift of the supply curve.
d. an increase in supply.
e. all of these.
e
Economics
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If the number of companies producing memory chips increases, then the
A) quantity of memory chips supplied increases. B) supply of memory chips does not change. C) supply of memory chips decreases. D) demand for memory chips increases. E) supply of memory chips increases.
Economics
If the marginal product of a unit of physical capital is 10 units of output, and the product that the physical capital is used to produce is sold for $5, the value of the marginal product of physical capital equals:
A) $2. B) $10. C) $20. D) $50.
Economics