Which of the Following Events Would Cause a Change in the Quantity

question 35

Multiple Choice

Which of the following events would cause a change in the quantity supplied of some agricultural commodity but would not cause a change in the supply of that same commodity?

• A)a change in the number of suppliers of the commodity.
• B)a change in the price of substitute goods.
• C)a technological change.
• D)a change in factor costs.
• E)a change in the price of the commodity.

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Definitions:

Regulatory Environment

Comprises laws, regulations, and governmental guidelines that govern the operation of businesses and industries.

Political Environment

Refers to the impact of government actions, stability, policies, and regulations on an organization's operations.

Equilibrium Price

The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time.