The Graph Illustrates the Supply of Sweaters

question 16

Multiple Choice

The graph illustrates the supply of sweaters. Which of the following events will increase the supply of sweaters?

• A) A rise in the wage rate paid to the workers who make sweaters.
• B) A rise in the expected future price of a sweater.
• C) An increase in income if sweaters are a normal good.
• D) An increase in the number of sellers of sweaters.
• E) A rise in the price of a sweater.

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Definitions:

Lightning Strikes

Electrical discharges caused by imbalances between storm clouds and the ground, or within the clouds themselves.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming that these events occur with a known constant mean rate and independently of the time since the last event.

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Manic-depressive Illness

Also known as bipolar disorder, it is a mental health condition characterized by extreme mood swings, including emotional highs (mania or hypomania) and lows (depression).