If There Is an Increase in Supply,assuming a Positively Sloped

question 10

Multiple Choice

If there is an increase in supply,assuming a positively sloped supply curve and a negatively sloped demand curve,total surplus:

• A)will increase.
• B)will decrease.
• C)will remain the same.
• D)may change,but we can't tell how.

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Definitions:

Bottom Line

A term referring to a company's net income, profit, or the critical or most important outcome of a situation.

Social Responsibility

An ethical framework suggesting that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large.

Doing Business

The act of engaging in any activity that involves the production, distribution, and sale of goods and services for profit.

Whistle-Blowers

Individuals who expose illegal, unethical, or improper conduct within an organization, often facing significant personal risk.