Asked by
Maneet Rehal
on Oct 12, 2024
Verified
A rightward shift of the entire supply curve
A) is an increase in supply.
B) might be due to a positive change in technology.
C) might be due to a decrease in the cost of labor.
D) might be due to an increase in the number of sellers.
E) all of the choices are correct.
Supply Curve
A graphical representation of the relationship between the price of a good or service and the quantity supplied for a given period.
Technology
The application of scientific knowledge for practical purposes, especially in industry and in the creation of inventions and software.
Labor Cost
The total amount of financial compensation and benefits paid to employees for their work, representing a significant operating expense for businesses.
- Comprehend the elements that lead to alterations in supply and demand.
- Determine the impacts of technological advancements on supply.
- Determine the impact of anticipations and the quantity of suppliers on the supply in the market.
Verified Answer
OA
Learning Objectives
- Comprehend the elements that lead to alterations in supply and demand.
- Determine the impacts of technological advancements on supply.
- Determine the impact of anticipations and the quantity of suppliers on the supply in the market.