Which of the Following Would Cause Price to Increase

question 83

Multiple Choice

Which of the following would cause price to increase?

• A)an increase in supply
• B)a decrease in demand
• C)a surplus of the good
• D)a shortage of the good

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Definitions:

Marginal Product

The additional output that is produced by adding one more unit of a particular input, keeping other inputs constant.

Short-Run Curve

Refers to a period in economics during which at least one factor of production is fixed, affecting production and cost decisions.

Marginal Product

The change in output resulting from employing one more unit of a particular input while holding all other inputs constant.

Total Product

The total quantity of output produced by a firm for a given quantity of inputs.