The supply of a good available in a market is likely to decrease when:A.new regulations increase the cost of making the product.B.new technology makes producing the product cheaper.C.the number of workers able to make the product increases.D.companies believe that the product's selling price will go up

Which development would most likely cause the supply of a product to increase?A.New technology allows the product to be made more quickly.B.Fewer workers receive the education needed to create the product.C.Government regulations increase the cost of making the product.D.Companies expect the price of the product to fall significantly.

Under the basic principle of supply, as the price goes down, manufacturers and suppliers of a product tend to supply less of the product to the market.Select one:TrueFalse

The law of supply claims that sellers will increase their supply of a good if:A.the demand for the good goes up.B.the price of the good goes up.C.the demand for the good goes down.D.the price of the good goes down

According to the law of _____ , producing significantly more of a product than current levels will come at a higher cost, so the price of the good must rise for sellers to be willing and able to increase the quantity of the good they supply to the market.Multiple choice question.increasing opportunity costsdemanddiminishing marginal productivityaverages

In perfect competition, if the market price of the product is initially higher than the minimum average total cost faced by the firms, thenMultiple Choicesome firms will exit the industry and the industry supply will decrease.other firms will enter the industry and the industry supply will increase.some firms will exit the industry and the industry supply will increase.other firms will enter the industry and the industry supply will decrease.