Which of the Following Cause and Effect Events Are in Order

question 111

Multiple Choice

Which of the following cause and effect events are in order for a seller?

• A) an input price falls, profit falls, the supply curve shifts left
• B) an input price falls, profit rises, the supply curve shifts right
• C) an input price rises, profit falls, the supply curve shifts right
• D) an input price rises, profit rises, the supply curve shifts left

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Definitions:

Domestic Industry

The industries that produce goods and services within a country's own borders.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product demanded.

Domestic Price

The price of goods or services within a country's borders, influenced by local supply and demand conditions.

Exports

Goods or services sold by a country to buyers located in other countries.