Larger quantities of any good will be supplied at higher prices because
a. consumers will be more satisfied
b. higher prices attract resources from other uses
c. people are naturally lazy and have to be bribed to give up their leisure
d. price and quantity supplied are inversely related
e. of the law of decreasing opportunity cost
Question 2
Which of the following explains the relationship between price and the quantity supplied?
a. When expanding output, firms will incur greater total costs.
b. As the price of a commodity falls, producers will find it more profitable to use higher-priced inputs in their production process.
c. As a result of rising production costs, firms can increase profits by expanding output only if the price of output increases.
d. To expand output, firms must hire more resources, which are always of poorer quality.
e. Consumers want more at lower prices.
Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi
onions taste good
Good computer skills are now required to be a successful member of an office staff.
Water vapor is supplied to the atmosphere by local evaporation or horizontal transport (advection).
Good body mechanics when facing the table directly. A. Head and back in alignment. B. Legs and feet ...
Suicide rates in Canada are more than three times higher for males than for females