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According to the Law of Supply,
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
If the cost of computer components (parts) falls, then
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
Which of the following would NOT encourage a producer to enter a particular industry?
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
The supply curve is upsloping because........
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
Of the following, which situation would cause a shift of the supply curve from S1 to S2?
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
All of the following shifts the demand curve for automobiles to the "right" EXCEPT:
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
The average wage of grape harvesters rises by 10%. The supply curve.......
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
Companies that sell similar goods and services are called
Drought reduces industry output by 25%
the price of the product is low
a brand new automotive dealership opens in town
quantity supplied and price have a direct relationship
shifts to the left
the demand curve for computers SHIFTS TO THE RIGHT
as the price increases, suppliers (producers, businesses) can earn higher profits
competitors
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