When Quantity Supplied Increases at Every Possible Price,we Know That

question 28

Multiple Choice

When quantity supplied increases at every possible price,we know that the supply curve has

• A)shifted to the left.
• B)shifted to the right.
• C)not shifted;rather,we have moved along the supply curve to a new point on the same curve.
• D)not shifted;rather,the supply curve has become flatter.

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Definitions:

Wage

A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to manual or unskilled workers.

Rental Rate

The cost associated with leasing a particular commodity, property, or piece of equipment per unit time.

Marginal Product

The extra production resulting from the increase of a particular input by one unit, assuming all other factors remain constant.

Output

The total amount of goods or services produced by a company, industry, or country within a specific period.