A Reduction in an Input Price Will Cause a Change

question 134

True/False

A reduction in an input price will cause a change in quantity supplied but not a change in supply.

---

Definitions:

Social Psychology

The scientific study of how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Episodic Memory

A form of long-term memory that is concerned with the recall of particular occurrences, settings, and personal experiences.

Hazing

The practice of imposing strenuous, often humiliating tasks or rituals as part of a group initiation process.

Postdecisional Dissonance

A psychological phenomenon where after making a decision, an individual experiences stress or regret, questioning if the right choice was made.