Seller A, has an upward-sloping supply curve, and is willing to ...

[elizabeth18]

Seller A, has an upward-sloping supply curve, and is willing to supply 400 units of a commodity at a price of 5 per unit. Seller A is now willing to supply 500 units at a price of 5 per unit. Evidently, seller A has experienced a(n):
 a. increase in supply.
  b. decrease in supply.
  c. increase in quantity supplied.
  d. decrease in the quantity supplied.
  e. decrease in demand.

Question 2

If more people enter medical school, we can expect:
 a. the demand for doctors to increase.
  b. the supply of doctors to increase.
  c. the demand for doctors to decrease.
  d. the supply of doctors to decrease.
  e. no effect on the supply or demand of doctorsjust a movement along the curves.

[ankilker]

Answer to Question 1

a

Answer to Question 2

b

[elizabeth18]

Thanks for the timely response, appreciate it

[kishoreddi]

Excellent