The price of a good and the quantity supplied are correct answers directly related
When the price of smart phones increases: correct answers the quantity of smart phones supplied will increase
According to a popular statement in economics, "if not for _______________, we should be able to gro...
Econ 101: exam 1(Correctly solved)
The price of a good and the quantity supplied are correct answers directly related
When the price of smart phones increases: correct answers the quantity of smart phones supplied will
increase
According to a popular statement in economics, "if not for _______________, we should be able to grow
the world's food supply in a flower pot". correct answers diminishing marginal productivity
Market supply is the _______________ summation of the quantities supplied by individuals, firms, states,
or even nations at each price over a fixed time period. correct answers horizontal
if at least one input of production is fixed, the marginal productivity of additional variable resources will
eventually fall, all else held constant. correct answers diminishing marginal productivity
The anticipated future outcomes, including prices, that sellers associate with the production of a good,
service, or resource are expectations of the: correct answers seller
When the number of sellers decreases,: correct answers supply decreases
tomato producers expect prices to fall in the future. This will likely cause current: correct answers supply
to increase
Suppose that days of rain increase the water level in a river and wash away the docks, canoes, and kayaks
of the riverside rental businesses. We can conclude that: correct answers the supply of recreational river
sports will fall.
When the number of sellers in a market changes,: correct answers the supply curve shifts
Companies will be willing and able to produce additional units of a good only if the: correct answers
price of the good rises enough to cover the increasing costs
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