Asked by Nicole Enabosi on May 09, 2024
Verified
Which factor would cause a DECREASE in the supply of a good?
A) an increase in the price of goods that are used in production
B) suppliers' expectations of lower prices in the future
C) an advancement in the technology for producing the good
D) an increase in the number of producers
Suppliers' Expectations
The assumptions or beliefs that suppliers have about future market conditions, which can influence their pricing and production decisions.
Price of Goods
The amount of money required to purchase a particular product or service in the marketplace.
Advancement in Technology
describes improvements in technology that often lead to increased productivity, efficiency, and the creation of new products or processes.
- Identify factors that cause an increase or decrease in the supply of a good.
- Analyze the effects of input costs on the supply of goods.
Verified Answer
Learning Objectives
- Identify factors that cause an increase or decrease in the supply of a good.
- Analyze the effects of input costs on the supply of goods.
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