Asked by Jennaia Asenati on May 10, 2024
Verified
Which factor would cause an INCREASE in the supply of a good?
A) an increase in input prices
B) suppliers' expectations of higher prices in the future
C) an increase in the price of the good
D) a decrease in the price of resources used in production
Input Prices
The cost of goods, services, and materials that are used to produce other goods or services.
Suppliers' Expectations
The anticipations or beliefs of suppliers about the future conditions of the market that can influence their decisions on production and pricing.
Price of the Good
The amount of money required to purchase a specific product or service in the market.
- Elucidate the factors driving an upsurge or a downturn in the availability of a good.
- Understand the impact of technological advancements on the supply of goods.
- Analyze the correlation between the expense of inputs and the availability of products.
Verified Answer
Learning Objectives
- Elucidate the factors driving an upsurge or a downturn in the availability of a good.
- Understand the impact of technological advancements on the supply of goods.
- Analyze the correlation between the expense of inputs and the availability of products.
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