Which of the Following Would Shift the Supply Curve for a Good

question 238

Multiple Choice

Which of the following would shift the supply curve for a good to the left?

• A)an increase in the price of that good
• B)a decrease in the price of an alternative good
• C)an improvement in technology for producing that good
• D)an increase in the cost of an important resource used to make that good
• E)an increase in the number of producers

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Definitions:

Industrial Standards

Established norms and requirements regarding technical specifications and safety measures that products or processes should meet within an industry.

Knowledge Retention

Knowledge Retention is the process of systematically capturing, storing, and managing the knowledge created within an organization to ensure it can be accessed and used in the future.

Market Definition

The process of determining the boundaries of a market, including potential customers and competitors, based on geography, demographics, and product use and needs.

Situation Assessment

An evaluation of the current conditions, challenges, and opportunities facing an organization or project, often as a basis for strategic planning.