Microeconomics – Supply Questions

All else being equal, if the price of a product decreases, we would expect:

Which of the following statements is true about supply?

The law of supply indicates that, all else held constant,

Which of the following would cause the supply of apples to shift from S1 to S3?

Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the:

If a subsidy is provided for the production of good X, this will shift the:

1 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be:

Which one of the following is not assumed to be constant when the supply curve for a product is drawn?

All else held constant, if the government places a tax on each gallon of gasoline produced, then this would cause a:

Which of the following will shift the supply curve for USB flash drives to the right?

If a tax is placed on the production of good X, this will shift the:

Which of the following would cause a rightward shift of the supply curve for cell-phone services?

The diagram above shows three supply curves for apples. A movement from point a to point b is caused by a change in the :

Which one of the following would not affect the position of the supply curve for cranberries?

An improvement in production technology will:

Resources include:

A ______ on producers increases the cost of producing.

Firms will be willing and able to produce more output only when prices rise, because the:

Taxes and subsidies matter, because they:

Resources are:

A change in taxes and subsidies on producers alters market ______, but not market ________.

According to the principle of diminishing marginal productivity: