Which of the Following Would Shift the Supply Curve for MP3

question 32

Multiple Choice

Which of the following would shift the supply curve for MP3 players to the left?

• A)an increase in the price of an input used to produce MP3 players
• B)a decrease in consumer tastes for MP3 players
• C)an increase in the number of firms that produce MP3 players
• D)an increase in the productivity of the workers who produce MP3 players

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Definitions:

Market Price

The market price at which you can currently buy or sell a service or asset in a specified market.

Negative Economic Profit

A situation where a firm's total revenue is less than its total costs, including opportunity costs.

Market Price

The current value at which an asset or service can be bought or sold in a competitive marketplace.

Zero Economic Profit

A situation where a firm's total revenue is exactly equal to its total costs, including opportunity costs.