Some Producers Are Chatting Over a Beer

question 132

Multiple Choice

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

• A)"Wage increases have forced us to raise our prices."
• 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)"We anticipate a big increase in demand.Our product price should rise, so we are planning for an increase in output."
• E)Both A and C.

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Definitions:

Shifts

Changes or movements in personnel, time periods for work, or positions, often referring to the scheduling of work periods.

Job Enrichment

A method of giving an employee more responsibility that includes some of the planning and control necessary for job accomplishment; vertical expansion.

Behavioral Approach

A study method focusing on understanding how human behavior is influenced by the environment and the mind.