- In the Above Figure, the Shift in the Supply Curve

question 24

Multiple Choice

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In the above figure, the shift in the supply curve from S to S2 might reflect

• A)a decrease in the number of pizza producers.
• B)an increase in the price of a pizza.
• C)a decrease in the cost of the tomato sauce used to produce pizza.
• D)an increase in income if pizza is a normal good.
• E)an increase in the price of a good that is a substitute for consumers.

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Definitions:

Gross Domestic Product

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period, serving as a broad measure of a nation's overall economic activity.

Small Businesses

Typically refers to privately owned corporations, partnerships, or sole proprietorships with fewer employees and lower annual revenue than larger businesses.

Visa

An official authorization appended to a passport, permitting entry into and travel within a particular country or region.

MasterCard

A global financial services corporation known for its wide acceptance as a payment method for transactions, providing credit, debit, and prepaid card offerings to consumers.