Which of the Following Would Shift the Supply Curve for Energy

question 149

Multiple Choice

Which of the following would shift the supply curve for energy drinks to the left?

• A)a decrease in the expected future price of energy drinks
• B)an increase in consumer income (assuming that energy drinks are normal goods)
• C)a decrease in the number of firms that produce energy drinks
• D)a decrease in the price of an input used to produce energy drinks

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Definitions:

Process Innovation

Refers to significant improvements in the way an organization conducts its business, aiming to achieve better efficiency, effectiveness, and performance.

Sunk-cost Fallacy

The misconception that one should continue on a course of action because they have already invested resources (time, money, effort), regardless of the current and future costs.

Programmed Decisions

Decisions that are routine and repetitive, often made using predetermined rules and procedures.

False Consensus Effect

A cognitive bias whereby individuals overestimate the extent to which their beliefs, feelings, or behaviors are shared by others.