Asked by karter lector on May 01, 2024
Verified
Which factor would cause an INCREASE in the supply of a good?
A) an increase in input prices
B) a decrease in the number of sellers in the market
C) suppliers' expectations of higher prices in the future
D) an advancement in the technology for producing the good
Input Prices
The cost associated with the factors used in production, such as labor, materials, and capital.
Number of Sellers
Refers to the total count of distinct sellers or firms active in a given market, affecting the market's competition level.
Suppliers' Expectations
The beliefs or forecasts that producers have regarding future prices, demand, or supply conditions.
- Identify the influences that result in an expansion or contraction in the availability of a good.
- Gain insight into how technological improvements affect the provision of goods.
Verified Answer
Learning Objectives
- Identify the influences that result in an expansion or contraction in the availability of a good.
- Gain insight into how technological improvements affect the provision of goods.
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