Which of the Following Provides the Best Example of the Law

question 65

Multiple Choice

Which of the following provides the best example of the law of supply?

• A) Falling labor costs cause an increase in supply.
• B) Improved technology shifts the supply curve to the right.
• C) Some producers leave the industry,and the supply curve shifts to the left.
• D) An increase in price entices suppliers to produce more.

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Definitions:

Future Behavior

Predicted actions or conduct of an individual or group based on current or past behavior patterns, often used in psychological assessments.

Events

Occurrences or happenings, especially those of significance, that can be observed or participated in.

Accurately Describe

To represent or convey something in a manner that is precise, correct, and free from error or distortion.

Group Assessment

The process of evaluating the abilities, performances, or needs of a group of individuals rather than individuals separately.