Which of the Following Would Shift the Supply Curve for MP3

question 76

Multiple Choice

Which of the following would shift the supply curve for MP3 players to the right?

• A)an increase in the price of a substitute in production
• B)an increase in consumer income (assuming that all MP3 players are normal goods)
• C)a decrease in the number of firms that produce MP3 players
• D)a decrease in the price of an input used to produce MP3 players

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Definitions:

Property Rights

Legal rights to use, derive benefit from, and transfer property.

Negative Externality

An adverse effect or cost suffered by a third party due to an economic transaction they were not involved in.

Government Standards

Official requirements established by governmental bodies that products, services, or processes must meet, often related to quality, safety, or compatibility.

Emission Reductions

The process of lessening the amount of pollutants released into the atmosphere, often targeting greenhouse gases to combat climate change.