Which of the Following Shifts the Supply Curve Rightward

question 18

Multiple Choice

Which of the following shifts the supply curve rightward?

• A)A decrease in the price of the good
• B)An increase in the population
• C)A decrease in the price of a factor of production used to produce the good
• D)A positive change in preferences for the good

Identify conditions under which a firm should operate, expand, contract, or exit in the short and long run.

Interpret cost and revenue data from tables to make production and pricing decisions.

Describe the conditions that determine a firm's short-run supply curve.

Understand the role of average and marginal costs in determining production levels and profitability.

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Definitions:

Statute Law

Law enacted by a legislative body, such as a parliament or congress, officially documented and codified.

Gratuitous Promise

A promise made without expecting anything in return, often not legally binding unless certain formalities are met.

Consideration

The benefit, interest, right, or profit that is given or promised to one party in a contract in exchange for them to do or not do something.

Binding Contract

An agreement between two or more parties that is legally enforceable.