Some Producers Are Chatting

question 169

Multiple Choice

Some producers are chatting.Which one of the following quotations refers to a movement along the supply curve?

• A)"Wage increases have forced us to raise our prices."
• B)"Our new,sophisticated equipment will enable us to undercut our competitors."
• C)"Raw material prices have sky-rocketed;we will have to pass the cost on to our customers."
• D)"We anticipate a big increase in demand.Our product price should rise,so we are planning for an increase in output."
• E)"New competitors in the industry are causing prices to fall."

---

Definitions:

Government Assistance

Financial or other support provided by government agencies to individuals, organizations, or sectors in need.

Normative Isomorphism

The process by which organizations conform to the norms and values of their environment to gain legitimacy.

Professionalism

The conduct, behavior, and attitude deemed appropriate and expected from someone in a professional setting.

Bureaucracy

A system of administration marked by officialism, red tape, and a clear hierarchy, often used in large organizations and government.