Which of the Following Would Cause a Decrease in the Quantity

question 39

Multiple Choice

Which of the following would cause a decrease in the quantity supplied of a good

• A)An increase in the costs of production
• B)An increase in the relative price of another good
• C)A decrease in the price of the good
• D)A government subsidy to produce the good

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Definitions:

Invisible-Hand Concept

A term coined by Adam Smith to describe the self-regulating nature of the marketplace, where individuals' pursuit of self-interest leads to beneficial outcomes for society.

Self-Interest

The focus on actions or activities that are advantageous to an individual or organization.

Public Interest

The welfare or well-being of the general public, often considered as a guiding principle for governmental policy.

Goods And Services

The output of an economy, consisting of both tangible products (goods) and intangible activities (services) that provide value to consumers.