If the Cost of Producing a Good Rises for Sellers

question 206

Multiple Choice

If the cost of producing a good rises for sellers, then how will this affect the market equilibrium for that good?

• A) ​Price will rise and quantity will fall.
• B) ​Price will fall and quantity will rise.
• C) ​Price and quantity will both rise.
• D) ​Price and quantity will both fall.

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Definitions:

Number Words

Words that denote numbers, allowing for the expression and communication of quantities.

Specific Quantities

Quantities that are clearly defined or precise, not vague or general.

Mathematics

is the abstract science of numbers, quantity, and space, either studied in its own right (pure mathematics) or as applied to other disciplines such as physics and engineering (applied mathematics).

Syllables

Units of organization for a sequence of speech sounds, typically comprising a vowel sound with or without surrounding consonants.