If the Cost of Flour Increases from $3 to $5

question 71

Multiple Choice

If the cost of flour increases from $3 to $5 a bag,we could predict the supply curve for bagels to

• A) shift to the right.
• B) shift to the left.
• C) become steeper.
• D) become flatter.
• E) increase.

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Definitions:

Laggards

A category of consumers that do not like change and may remain loyal to a product until it is no longer available for sale.

Resellers

Retailers and wholesalers that buy finished goods and resell them for a profit.

Product Life Cycle

The phases a product experiences starting from its creation and launch into the market, followed by its growth, peak, and finally its reduction in popularity and sales.

Promotion

The activities designed to inform, persuade, or remind target audiences about a product, service, or brand.