Which of the following could cause the supply of carrots to decrease?
a. Consumers' incomes decrease.
b. There is a technological advance in carrot production.
c. Fertilizer costs increase.
d. The number of farmers growing carrots increases.
e. The price of carrots decreases.
c
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A monopolistically competitive firm has the free entry characteristics of ________ and the price setting characteristics of ________
A) an oligopolistic market; perfect competition B) perfect competition; a monopoly C) a monopolistic market; a cartel D) perfect competition; perfect competition
Keynesian belief that the aggregate supply curve is relatively flat in the short run means that they expect their policies to cause
a. small increases in output and much inflation. b. small increases in output and little inflation. c. large increases in output and little inflation. d. large increases in output and much inflation.