Some Producers Are Chatting Over a Beer

question 132

Multiple Choice

Some producers are chatting over a beer.Which one of the following quotations refers to a rightward shift of 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)Both A and C.

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Definitions:

Socioeconomic Status

An individual's or group's economic and social position in relation to others, based on income, education, and occupation.

Problem Drinkers

Individuals who experience negative consequences as a result of their alcohol consumption, which may include health issues, personal and professional problems, but may not meet the criteria for alcoholism.

Socially Constructed

A concept or perception that has been created and accepted by the people in a society through cultural and social practice.

Mental Illness

A broad range of medical conditions that affect a person's thinking, feeling, mood, ability to relate to others, and daily functioning.