Which of the Following Shifts the Supply Curve Rightward

question 475

Multiple Choice

Which of the following shifts the supply curve rightward?

• A) an increase in the population
• B) a positive change in preferences for the good
• C) a decrease in the price of the good
• D) a decrease in the price of a factor of production used to produce the good

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Definitions:

Elastic

Describes a situation in economics where the demand or supply for a good or service significantly changes in response to changes in price.

Total Revenue

The total amount of money generated by a business through its sales of goods or services before any expenses are deducted.

Price Raised

An increase in the cost of a good or service to consumers.

Perfectly Horizontal

Describes a line or curve on a graph that has a slope of zero, indicating no change.