A Typical Supply Curve Shows That an Increase in the Price

question 145

Multiple Choice

A typical supply curve shows that an increase in the price of a good will cause the quantity supplied to:

• A)decrease.
• B)increase.
• C)remain constant.
• D)fluctuate randomly around its equilibrium value.

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Definitions:

Minor Premise

In a syllogism, the specific assertion or statement that, combined with the major premise, leads to a conclusion.

Valid Syllogism

A form of deductive reasoning where, if the premises are true, the conclusion necessarily follows, demonstrating logical structure and soundness.

I Proposition

A type of categorical proposition in traditional logic that is particular and affirmative, stating that some members of the subject class are part of the predicate class.

Existential Import

The implication that a statement has because it suggests the existence of something.