Holding the Nonprice Determinants of Supply Constant,a Change in Price

question 52

Multiple Choice

Holding the nonprice determinants of supply constant,a change in price would

• A)result in either a decrease in supply or an increase in supply.
• B)result in a movement along a stationary supply curve.
• C)result in a shift of demand.
• D)have no effect on the quantity supplied.

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Definitions:

Break-even Point

A stage where total sales or production volume exactly matches the overall expenses, consequently yielding no financial gain or deficit.

Break-even Point

The financial stage where total costs equal total revenue, meaning the business is neither making a profit nor a loss.

Unit Variable Costs

Costs that vary directly with the production volume, per unit produced.

Break-even Point

The breakpoint where overall earnings from sales or manufacturing activities are equal to the total costs incurred, preventing any profit or loss.