If the Price of a Good Is Low

question 33

Multiple Choice

If the price of a good is low,

• A)firms would increase profit by increasing output.
• B)the quantity supplied of the good could be zero.
• C)the supply curve for the good will shift to the left.
• D)firms can and should raise the price of the product.

---

Definitions:

No Hope

Generally signifies a situation or mindset where there is a belief that no positive outcomes are possible.

Declaration of Independence

A foundational document adopted on July 4, 1776, by the Continental Congress, declaring the thirteen American colonies to be independent from British rule.

Sovereignty

The full right and power of a governing body to govern itself without any interference from outside sources or bodies.

Grievances

Complaints or protests, often against injustices or perceived wrongs, that can lead to demands for change or redress.