Which of the Following Events Could Cause an Increase in the Supply

question 1

Multiple Choice

Which of the following events could cause an increase in the supply of ceiling fans?

• A)The number of sellers of ceiling fans increases.
• B)There is an increase in the price of air conditioners,and consumers regard air conditioners and ceiling fans as substitutes.
• C)There is an increase in the price of the motor that powers ceiling fans.
• D)All of the above are correct.

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Definitions:

Per Capita Income

A measure of the average income earned per person in a given area or country, calculated by dividing the area's total income by its population.

Manufacturing Sector

The segment of an economy that is involved in the production of goods using labor, machinery, and tools.

Developing Countries

Refers to nations with lower levels of income, industrialization, and often a lower Human Development Index compared to developed countries.