If the Price of a Commodity Increases,you Can Usually Expect

question 95

Multiple Choice

If the price of a commodity increases,you can usually expect the:

• A)supply to increase.
• B)quantity supplied to increase.
• C)quantity supplied to decrease.
• D)supply curve to shift to the right.

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Definitions:

Expected Profit

The anticipated financial gain from a business venture or investment, estimated based on forecasts or previous performance.

Price

The amount of money required to purchase a particular good or service.

Sales

The activity or business of selling products or services.

Costs

The costs associated with the creation of goods or services, covering materials, workforce, and indirect expenses.