Which of the Following Shifts the Supply Curve for Good

question 132

Multiple Choice

Which of the following shifts the supply curve for good X leftward?

• A)a situation in which the quantity demanded of X exceeds the quantity supplied of X
• B)an increase in the cost of the machinery used to produce X
• C)a technological advance in the production of X
• D)a decrease in the wages of workers employed to produce X
• E)a situation in which the quantity supplied of X exceeds the quantity demanded of X

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Definitions:

Persuasive

The ability to convince others to agree with a viewpoint, idea, or course of action through reasoning and argumentation.

Availability

The state of being able to be used or obtained; readiness for use.

Representativeness

A cognitive bias in decision making where the likelihood of an occurrence is evaluated based on how similar it is to stereotypes or typical cases.

Anchoring Bias

A mental shortcut in which a person gives disproportionate weight to the first piece of information they receive (known as the "anchor") during decision-making processes.