An Increase in the Supply of the Product Implies

question 300

Multiple Choice

An increase in the supply of the product implies:

• A) producers will now charge a higher price for a given quantity of output.
• B) the supply curve will shift to the left.
• C) some producers are dropping out of this market.
• D) producers will now charge a lower price for a given quantity of output.
• E) the price of this product has increased.

---

Definitions:

Defendant

A party against whom a lawsuit is brought.

Contract Law

A domain of law that governs the creation, execution, and enforcement of agreements between parties.

Corporate Law

Law that governs the formation, financing, merger and acquisition, and termination of corporations, as well as the rights and duties of those who own and run the corporation.

Public Prosecutor

An attorney whose official duty is to conduct criminal proceedings on behalf of the government or the public interest.