Statement I: a Change in Supply and a Change in Quantity

question 12

Multiple Choice

Statement I: A change in supply and a change in quantity supplied are two ways of saying exactly the same thing.
Statement II: A change in income or changes in tastes and preferences for a good will cause a shift in the supply curve.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Tangible Results

Outcomes or benefits of an action or process that can be seen, touched, or measured physically.

Factual Communication

The exchange of information that is based strictly on objective facts and evidence, without the influence of personal feelings or opinions.

Central Route

A pathway of persuasion described in the Elaboration Likelihood Model that involves thoughtful consideration of the arguments presented.

Persuasion

The act of convincing someone to do something or to adopt a certain belief through argument, appeal, or rational discussion.