An Increase in the Number of Producers of Bird Seed

question 286

Multiple Choice

An increase in the number of producers of bird seed ________ the supply of bird seed and shifts the supply curve of bird seed ________.

• A) increases; rightward
• B) increases; leftward
• C) decreases; rightward
• D) decreases; leftward
• E) does not change; rightward

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Definitions:

Marginal Benefit

The additional satisfaction or utility gained from consuming or using one more unit of a good or service.

Marginal Cost

The additional cost incurred by producing one more unit of a product or service, highlighting how costs vary with production levels.

Utility

A measure of satisfaction or pleasure derived from consuming goods or services.

Satisfaction

The contentment or fulfillment a consumer feels after purchasing and using a product or service.