Which of the Following Would Cause an Increase in the Supply

question 109

Multiple Choice

Which of the following would cause an increase in the supply of cheese?

• A)a decrease in the price of wine (assuming that cheese and wine are complements)
• B)an increase in the price of cheese
• C)an increase the price of a product that producers sell instead of cheese
• D)an increase in the number of firms that produce cheese

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Definitions:

Advance

Money paid or received before it is due, often used in contexts like salary advances or advance payments.

Periodic Tenancy

A tenancy agreement that automatically renews for a fixed period, such as monthly or yearly, until notice is given to terminate it.

Tenancy from Month to Month

A rental agreement where the lease period is for one month, automatically renewing each month until either the landlord or tenant decides to terminate it.

Tenancy at Sufferance

A situation where a tenant remains in possession of property after the expiration of the lease, without the consent of the landlord but without being evicted.