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.
A freshly applied autograft. Note that the donor skin has been perforated so that it can be stretche
Although males tend to be larger than females, the two overlap significantly in size. The size of a
Maps are important tools in political science as they help us see relationships between politics and
Common skin signs are often evidence of an illness or disorder. A nodule is a larger papule; acne ...
The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices
Higher-Order Conditioning