Seller A, Has an Upward-Sloping Supply Curve, and Is Willing

question 291

Multiple Choice

Seller A, has an upward-sloping supply curve, and is willing to supply 400 units of a commodity at a price of $5 per unit. Seller A is now willing to supply 500 units at a price of $5 per unit. Evidently, seller A has experienced a(n) :

• A) increase in supply.
• B) decrease in supply.
• C) increase in quantity supplied.
• D) decrease in the quantity supplied.
• E) decrease in demand.

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Definitions:

Ecosystem

A community made up of living entities and their surrounding physical conditions, interacting together in a biological setting.

Trophic Level

The position an organism occupies in a food chain, based on its source of nutrition and energy.

Energy

Capacity to do work and bring about change; occurs in a variety of forms.

Atmosphere

The layers of gas surrounding a planet, held in place by gravity, and composed of various gases that protect and sustain life on Earth by absorbing ultraviolet solar radiation, warming the surface through heat retention, and reducing temperature extremes between day and night.