A Change in the Quantity Supplied of a Good May

question 54

Multiple Choice

A change in the quantity supplied of a good may be caused by

• A)A change in technology
• B)A change in the number of firms selling the good
• C)A change in the price of the good
• D)A change in the demand for the good
• E)Either (c)or (d)

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Definitions:

Merchantability

A guarantee that a product sold will meet reasonable expectations of quality and performance as implied by law.

Preassembled

Refers to items or products that are assembled at the manufacturing facility before being shipped to the customer.

Express Warranties

Explicit assurances provided by a seller to a buyer, detailing the quality, features, or specifications of the product being sold.

Brochure

A printed piece of marketing material that provides information about a product, service, or organization.