What Is the Role of Government Impetus in the Development
An increase in which of the following would shift the supply curve for gasoline to the right?
A)demand for gasoline
B)price of gasoline
C)number of producers of gasoline
D)price of oil, an input into the production of gasoline
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.
Refer to Figure 4-13. The shift from S to S' is called a(n)
A)decrease in supply.
B)decrease in quantity supplied.
C)increase in supply.
D)increase in quantity supplied.
Refer to Figure 4-13. The shift from S to S' could be caused by an
A)increase in the price of the good.
B)improvement in production technology.
C)increase in income.
D)increase in input prices.