Which of the Following Increases the Supply of a Good

question 8

Multiple Choice

Which of the following increases the supply of a good and shifts its supply curve rightward?

• A) a smaller number of producers
• B) a higher wage paid to workers in the industry
• C) a technological advance in how the good is produced
• D) an increase in the cost of the resources used to produce the good
• E) an increase in the price of the good

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Definitions:

Intercept

In the context of mathematical graphs and equations, it refers to the point where a line or curve crosses an axis.

Regression Analysis

A statistical method for estimating the relationships among variables, often for predicting a dependent variable based on one or more independent variables.

Significance

The degree to which a result, difference, or relationship in data is not likely to occur randomly or by chance but rather is likely to be true.

Slope

The measure of the steepness or angle of a line, indicating the rate at which one variable changes with respect to another.