Some Producers Are Chatting Over a Beer

question 68

Multiple Choice

Some producers are chatting over a beer. Which one of the following quotations refers to a rightward shift of the supply curve?

• A)"Wage increases have forced us to raise our prices."
• B)"Our new, sophisticated equipment will enable us to undercut our competitors."
• C)"Raw material prices have sky-rocketed; we will have to pass the cost on to our customers."
• D)"We anticipate a big increase in demand. Our product price should rise, so we are planning for an increase in output."
• E)"Competitors are leaving the industry."

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Definitions:

Immovable Joint

A type of joint in the human body that does not allow any movement between the bones it connects.

Synarthrosis

A type of joint in the body that is immovable, such as the sutures in the skull.

Amphiarthrosis

A type of joint in the human body that allows for limited movement, contributing to stability and support, such as the vertebrae in the spine.

Diarthrosis

A movable joint; another word for synovial.