Which of the following causes a movement along a supply curve?
A. a change in technology
B. a change in resource costs
C. a change in the price
D. all of these
Answer: C
Economics
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Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with respect to the price of blue pens is ________
A) positive B) negative C) equal to 1 D) zero
Economics
Because of an expected rise in interest rates in the future, a banker will likely
A) make long-term rather than short-term loans. B) buy short-term rather than long-term bonds. C) buy long-term rather than short-term bonds. D) make either short or long-term loans; expectations of future interest rates are irrelevant.
Economics