If Price Rises, What Happens to Supply of a Product

question 344

Multiple Choice

If price rises, what happens to supply of a product?

• A) It increases.
• B) It decreases.
• C) It does not change.
• D) Uncertain--economic theory has no answer to this question.

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Definitions:

Afterimage

The visual illusion of a continued perception, often in complementary colors, of a scene after looking away from it.

White Surface

A surface that appears white because it reflects most wavelengths of light visible to the human eye.

Sensory Adaptation

The process by which sensory receptors become less sensitive to constant stimuli over time, allowing organisms to focus on changes in their environment.

Feel

To experience a sensation or emotion through touch or to perceive something emotionally or intellectually.