Some Producers Are Chatting

question 63

Multiple Choice

Some producers are chatting.Which one of the following quotations refers to a rightward shift of the supply curve?

• A)"Competitors are leaving the industry."
• B)"Our new, sophisticated equipment will enable us to undercut our competitors."
• C)"Raw material prices have sky- rocketed; we will have to pass the cost on to our customers."
• D)"Wage increases have forced us to raise our prices."
• E)"We anticipate a big increase in demand.Our product price should rise, so we are planning for an increase in output."

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Definitions:

Kilograms

A unit of mass in the International System of Units (SI), equal to one thousand grams or approximately 2.20462 pounds.

Split Stems

A method in stem-and-leaf plots to split the stems for more refined data distribution visualization.

Dotplot

A statistical chart consisting of data points plotted on a simple scale, used to visualize the distribution of a data set.

Tornadoes

Violently rotating columns of air that are in contact with both the surface of the Earth and a cumulonimbus cloud or, in rare cases, the base of a cumulus cloud.