An Increase in Which of the Following Would Shift the Supply

question 30

Multiple Choice

An increase in which of the following would shift the supply curve for gasoline to the right?

• A)demand for gasoline
• B)price of gasoline
• C)number of producers of gasoline
• D)price of oil,an input into the production of gasoline

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Definitions:

Reduced Cost

In optimization, the amount by which an objective function's value could decrease by increasing a non-basic variable by one unit.

Projected Revenue

An estimated amount of money that an organization, project, or product is expected to generate over a specific period in the future.

Total Suites

The complete count of sets or groups of rooms designed for use together.

Price/Demand Elasticity

Price/Demand Elasticity measures the responsiveness of the demand for a good or service to changes in its price, indicating how quantity demanded is affected by price alterations.