All of the Following Would Affect the Position of the Supply

question 85

Multiple Choice

All of the following would affect the position of the supply curve for cranberries, except the:

• A) Popularity of cranberry drinks
• B) Price of agricultural land for cranberries
• C) Cost of fertilizers for cranberry production
• D) Development of a new pest control for cranberries

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Definitions:

Minimum Wage

The lowest legal salary that employers can pay their employees, often set by government laws.

Marginal Product

The additional output that is produced by using one more unit of a specific input, keeping other inputs constant.

Level of Employment

The total number of people currently employed in the economy, either full-time or part-time.

Pizza Producing Technology

The methods and equipment used in the production of pizzas, often incorporating advancements for efficiency and quality.