Figure 4-11 -Refer to Figure 4-11.The Movement from Point a to Point

question 4

Multiple Choice

Figure 4-11
-Refer to Figure 4-11.The movement from point A to point B on the graph represents

• A)an increased willingness and ability on the part of suppliers to supply the good at each possible price.
• B)an increase in the number of suppliers.
• C)a decrease in the price of a relevant input.
• D)an increase in the price of the good that is being supplied and the suppliers' responses to that price change.

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Definitions:

Price Inelastic

A characteristic of a good or service whose demand does not significantly change when its price changes.

Agricultural Products

Goods derived from farming and the cultivation of soil, including crops and livestock.

Agricultural Industry

The sector of the economy focused on the production, processing, and distribution of food, fiber, and related products.

Farm Products

Items derived from agriculture, including crops and livestock.