Asked by
Dylan Balack
on Nov 30, 2024
Verified
Which of the following most likely would cause an increase in demand for good Z?
A) A decline in income of consumers most likely to purchase good Z
B) An increase in a tax on good Z
C) A technological advance in the method of producing good Z
D) A decrease in the number of suppliers of good Z
E) None of the choices are correct.
Technological Advance
The progress in scientific research and development leading to new inventions or improvements in technology that can increase productivity and economic growth.
Demand
The willingness and ability of consumers to purchase goods and services at various prices during a certain period.
- Understand the determinants affecting the movement of supply curves.
Verified Answer
JH
Learning Objectives
- Understand the determinants affecting the movement of supply curves.