Which Scenario Would NOT Result in a Shift in the Supply

question 4

Multiple Choice

Which scenario would NOT result in a shift in the supply curve for miniature golf rounds?

• A) an increase in labor wages paid to the staff that operate the miniature golf course
• B) an expectation of a future surge in popularity of miniature golf
• C) a decrease in the price of go-kart racing, a substitute for miniature golf
• D) a new subsidy given to all operators of outdoor activities

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Definitions:

Entrepreneurial Ability

The skillset that enables individuals to recognize business opportunities, innovate, undertake risks, and manage businesses effectively.

Production Techniques

The methods and processes used by firms to produce goods or deliver services, including all aspects from initial design to final output.

Economic Loss

A situation where revenues from business activities are less than the expenses and costs associated with sustaining the business.

Price of Labor

The wage rate or compensation that employers pay workers in exchange for their labor or services.