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Assuming That the Supply Curve of Cupcakes Is Upward Sloping

question 60

Multiple Choice

Assuming that the supply curve of cupcakes is upward sloping and the demand for cupcakes decreases,there is a(n) _____ in _____ surplus.


Definitions:

Employment Discrimination

Unequal treatment of people on the basis of their race, gender, or religion, restricting their employment and earnings opportunities compared with others of similar productivity. Employment discrimination may stem from the prejudices of employers, customers, fellow employees, or all three.

Economic Theory

A set of definitions, postulates, and principles assembled in a manner that makes clear the “cause-and-effect” relationships.

Production Costs

The total expenses incurred in the manufacture of a product, including labor, materials, and overheads.

Personal Prejudices

Biases or preconceived opinions that individuals hold, which affect their attitudes, actions, and perceptions about other people or situations.

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