Which of the Following Would Shift the Supply Curve for Music

question 26

Multiple Choice

Which of the following would shift the supply curve for music streaming apps to the right?

• A)an increase in the price of a substitute in production
• B)an increase in consumer income (assuming that all music streaming apps are normal goods)
• C)a decrease in the number of firms that produce music streaming apps
• D)a decrease in the price of an input used to produce music streaming apps

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Definitions:

Price of Land

The monetary value assigned to a piece of land based on its characteristics, demand, and supply conditions.

Demand for Trees

The consumer desire or market requirement for trees, whether for lumber, paper products, or environmental benefits.

Demand for Paper Products

The total quantity of paper goods consumers are willing and able to purchase at various prices.

Elasticity

A measure of how much the quantity demanded or supplied of a good or service changes in response to a change in its price.