Which of the Following Events Would Cause a Movement Downward

question 3

Multiple Choice

Which of the following events would cause a movement downward and to the left along the supply curve for mangos?

• A)The number of sellers of mangos decreases.
• B)There is an advance in technology that reduces the cost of producing mangos.
• C)The price of mangos falls.
• D)The price of fertilizer increases,and fertilizer is an input in the production of mangos.

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Definitions:

Income Tax Rate

The percentage of income paid to the government as tax.

Variable Cost

Costs that change in proportion to the level of goods or services produced or sold.

Full Cost

The total expense associated with producing a product or service, including direct costs, indirect costs, and overhead.

Bulk Packaging

Packaging strategy involving packing larger quantities of a product, typically resulting in lower packaging costs per unit.