Which of the Following Would Result in a Movement Along

question 81

Multiple Choice

Which of the following would result in a movement along, but not a shift of the supply curve for spinach?

• A) Great weather that produces a bumper spinach crop this year.
• B) Disastrous weather that destroys half of this year's spinach crop.
• C) A rise in the price of of spinach.
• D) An increase in wages for workers in spinach fields.

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Definitions:

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, indicating the firm's overall financial gain.

Excess Capacity

A situation where a company or economy can produce more goods than are being demanded, indicating underused resources.

Average Total Cost

Average total cost is the total cost of production divided by the total quantity produced, representing the cost per unit of output.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, indicating surplus beyond the normal profit level.