A Decrease in Supply Is Caused By

question 46

Multiple Choice

A decrease in supply is caused by:

• A)a decrease in input prices.
• B)an increase in the number of sellers in the market.
• C)suppliers' expectations of higher prices in the future.
• D)an advancement in the technology for producing the good.

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Definitions:

Symbolic Form

Representation of ideas, concepts, or instructions in a set of symbols or a symbolic language.

Components

Pieces or parts that when combined form a complete unit or system, each serving a specific role within the whole.

Connective

A word or phrase in logic that connects propositions in such a way that the truth or falsehood of the compound proposition depends on the truth or falsehood of the components.

Inconsistent

Lacking compatibility or uniformity in actions, values, methods, measures, principles, or expectations; in logic, having two or more propositions that cannot all be true at the same time.