Which of the Following Will Cause a Movement Along the Supply

question 51

Multiple Choice

Which of the following will cause a movement along the supply curve?

• A) An increase or decrease in the cost of raw materials.
• B) An increase in labour costs.
• C) Changes in the cost of the machinery used to make a good.
• D) Changes in the market price of a good, other things being constant.

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Definitions:

Good Sold

The term refers to merchandise or items that a company sells to its customers.

Binding Price Ceiling

A government-imposed price control set below the market equilibrium price, leading to shortages as the quantity demanded exceeds the quantity supplied at that price level.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price point.

Quantity Supplied

The amount of a commodity that producers are willing and able to offer for sale at a specific price over a defined period of time.