The Relationship Between Quantity Supplied and the Price of Output

question 245

Multiple Choice

The relationship between quantity supplied and the price of output is such that

• A) an increase in quantity will automatically lead to a reduction in price.
• B) an increase in price will lead to an increase in quantity supplied.
• C) an increase in price will produce an inward shift in the supply curve.
• D) quantity will decrease as the number of firms increases.

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Definitions:

Initiating Structure

Leadership behavior focused on defining roles, tasks, and the goals of a team or organization, often leading to higher levels of order and productivity.

Production Orientation

A management approach focused on the efficient production and distribution of products, often prioritizing output over other factors.

Consideration

A leadership behavior characterized by mutual trust, respect, and a certain level of warmth and rapport between a leader and their followers.

Task-focused

This refers to an emphasis on completing specific tasks or objectives, prioritizing work and productivity over other considerations.