Which Would Cause an Increase in Quantity Supplied of Product

question 272

Multiple Choice

Which would cause an increase in quantity supplied of product A?

• A)an improvement in technology affecting the production of A
• B)an increase in the price of product B, a complement in the production of A
• C)a decrease in the price of resources used in producing A
• D)an increase in the price of A

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Definitions:

Materials

Substances or components used in the manufacturing or production of goods.

Equivalent Unit

A measure used in process costing that converts partially completed units into a number of fully completed units for accounting purposes.

First-in

A term often used to describe inventory valuation methods, implying the first items produced or purchased are the first sold.

Materials

Raw substances or components that are used in the manufacturing process to produce goods.