A Shift in the Supply Curve of Bicycles Resulting from Higher

question 76

Multiple Choice

A shift in the supply curve of bicycles resulting from higher steel prices will lead to

• A)higher prices of bicycles.
• B)lower prices of bicycles.
• C)a shift in the demand curve for bicycles.
• D)larger output of bicycles.
• E)no change in the price of bicycles.

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Definitions:

Just Noticeable Difference

The smallest difference in a stimulus that an organism can barely perceive.

Difference Threshold

The minimum difference in stimulation that an individual can detect 50% of the time, also known as the just noticeable difference (JND).

Difference Threshold

The minimum difference in stimulation that a person can detect 50 percent of the time, also known as the just-noticeable difference (JND).

Absolute Threshold

The minimum intensity at which a stimulus can be detected by an individual 50% of the time.