Author Question: A decrease in supply means that: a. demand will increase by the same amount. b. the quantity ... (Read 48 times)

jman1234 · **on:** Jun 30, 2018

A decrease in supply means that:
a. demand will increase by the same amount.
b. the quantity demanded will increase.
c. there is a movement down and to the left along the supply curve.
d. the quantity supplied at every price will decrease.
e. the supply curve will shift out and to the right.

Question 2

Which of the following will reduce the supply of motorcycles?
a. An increase in the population age 16 to 35, the primary consumers of motorcycles.
b. An increase in taxes imposed on motorcycle producers.
c. A technological improvement reducing the production costs of motorcycles.
d. A government study that reveals motorcycle riders, on average, live 10 years longer than those who don't ride motorcycles.