Which of the Following Will Not Cause the Supply Curve

question 143

Multiple Choice

Which of the following will not cause the supply curve to shift?

• A) a change in the costs of resources needed to produce the good
• B) a technological change in the production of the good
• C) a change in the price of the good
• D) a change in the prices of other goods that producers could be producing

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Definitions:

Market Price

The existing rate at which a service or asset is available for purchase or sale on the open market.

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit from the market, homogeneous products, and perfect information where no single participant can influence the price.

Price Control

Government-imposed limits on the prices that can be charged for goods and services in the market, usually aimed at curbing inflation or protecting consumers.

Profit-Maximizing Quantity

The level of production at which a business achieves the highest amount of profit, where marginal revenue equals marginal cost.