A Fall in the Price of Flour,used in Making Cakes,is

question 71

Multiple Choice

A fall in the price of flour,used in making cakes,is likely to ________ of cakes.

• A) increase the supply
• B) decrease the supply
• C) increase the quantity supplied
• D) decrease the quantity supplied

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Definitions:

Net Social Benefits

The difference between the total benefits and total costs of a project or policy when considering its impact on society as a whole.

Consumers

Individuals or groups who purchase goods and services for personal use, driving demand in the economy.

Taxpayers

Individuals or entities that are obligated to pay taxes to a governmental authority, based on income, property value, or consumption.

Parity

The state of being equal or equivalent in terms of value, status, or amount.