Everything Else Held Constant,an Increase in the Cost of Production

question 31

Multiple Choice

Everything else held constant,an increase in the cost of production ________ aggregate ________.

• A)increases;demand
• B)decreases;demand
• C)increases;supply
• D)decreases;supply

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Definitions:

Buyers

Buyers are those who acquire products or services for personal use or for resale, generating demand in the market.

Per-unit Tax

A tax that is levied on each unit of a product or service sold.

Buyers

Persons or organizations that buy products or services.

Sellers

Entities or individuals who make goods or services available for purchase by consumers or businesses.