In Markets for Manufactured Goods, a New Form of 3-D

question 163

Multiple Choice

In markets for manufactured goods, a new form of 3-D printing that lowers production costs will lead to:

• A) an increase in demand, a decrease in quantity demanded, and an increase in price.
• B) an increase in supply, an increase in quantity demanded, and a decrease in price.
• C) a decrease in demand, an increase in quantity supplied, and a decrease in price.
• D) an increase in supply, a increase in quantity demanded, and an increase in price.

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Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Truck Drivers

Individuals who operate trucks to transport goods and materials from one location to another.

Labor Union

An organization formed by workers to protect their rights, improve working conditions, and negotiate wages and benefits with employers.

Union Shop

A workplace where employees are not required to join the union prior to being hired, but must join soon after they start their employment.