The Supply Curve for a Good Will Shift to the Right

question 22

Multiple Choice

The supply curve for a good will shift to the right if:

• A) some ?rms in the market close down and exit the market.
• B) the costs of labour used in producing the good increase.
• C) the costs of capital used in producing the good increase.
• D) a cost-reducing technology is introduced in production.

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Definitions:

Loan Applications

Formal requests submitted by individuals or businesses to borrow money from financial institutions.

Continuous Random Variable

A variable that can take on an infinite number of values within a given range.

Curve f(x)

A graphical representation of a function f, defined by y = f(x), showing the relationship between two variables x and y.

Rh-negative Blood

A type of blood that lacks the Rh factor, an antigen present on the surface of red blood cells, important in blood transfusion and pregnancy.