Supply and Factors Quiz
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Questions and Answers

Which of the following is an example of a supply curve shifter?

  • Increase in the number of buyers
  • Expectation of future price rise
  • Increase in the price of the good
  • Fall in input prices (correct)

    • According to the law of supply, what happens to the quantity supplied when the price of a good rises?

  • Quantity supplied fluctuates
  • Quantity supplied decreases
  • Quantity supplied remains the same
  • Quantity supplied increases (correct)

    • What is the effect of a cost-saving technological improvement on the supply curve?

  • Shifts the supply curve to the left
  • Causes the supply curve to fluctuate
  • Shifts the supply curve to the right (correct)
  • Does not affect the supply curve

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