In Which Statement(s) Are "Supply" and "Quantity Supplied" Used Correctly

question 294

Multiple Choice

In which statement(s) are "supply" and "quantity supplied" used correctly? (I) "An increase in the price of computers will increase the quantity supplied of computers."
(II) "A technological advance that lowers the cost of producing computers will increase the supply of computers."

• A) in both statements I and II
• B) in statement I only
• C) in statement II only
• D) in neither statements I nor II

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Definitions:

Selling Points

Features or benefits of a product or service highlighted to attract and convince potential buyers.

Benefits

The advantages or positive outcomes obtained from a product, service, or action, contributing to an individual's or group's well-being or objectives.

AIDA Model

A marketing framework that describes the stages a customer goes through in the process of purchasing a product: Attention, Interest, Desire, and Action.

Persuasive Messages

Communications designed to influence or convince the audience of a particular view, idea, or action.