Some Producers Are Chatting Over a Beer

question 24

Multiple Choice

Some producers are chatting over a beer. 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."

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Definitions:

Large-Fiber Activity

Large-Fiber Activity refers to the actions or responses of large-diameter nerve fibers, which are typically involved in the transmission of touch and proprioceptive information.

Spinal Cord

The major column of nerve tissue that is connected to the brain and lies within the vertebral canal and from which the spinal nerves emerge.

Metal Belt Buckle

A device usually made of metal that fastens together the two ends of a belt or strap.

Cold and Pressure Spots

Sensory receptors in the skin that detect changes in temperature and pressure, contributing to the senses of touch and thermal perception.