Some Producers Are Chatting Over a Beer

question 24

Multiple Choice

Some producers are chatting over a beer. Which one of the following quotations refers to a movement along 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)"New competitors in the industry are causing prices to fall."

---

Definitions:

Private Member

A class member that cannot be accessed or modified outside its defining class.

Abstract Data Type

A model for data types where the data type is defined by its behavior from the point of view of a user of the data, specifically in terms of possible values, possible operations on data of this type, and the behavior of these operations.

Logical Properties

Attributes or characteristics that define the logical behavior of entities in computing, such as Boolean values and operations.

Reference This

A keyword in many programming languages that refers to the current instance of the class in which it is used.