economics

In which of the following situations would the price of a good be most likely to increase?

An increase in production costs results from a rise in wages.

A rise in demand happens too quickly for producers to increase production to keep up.

A breakthrough in productive technology enables a company to increase its output.

There's a sudden increase in the number of companies competing to sell the good.

i think b

  1. 👍
  2. 👎
  3. 👁
  1. its the first one

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Economics

    17. The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good is -1. When the price of the good drops by 10% to $18, consumer surplus: Increases or decreases by $__?

  2. Microeconomics

    Suppose that the price of product X rises by 20 percent and the quantity supplied of X increases by 15 percent. The coefficient of price elasticity of supply for good X is?

  3. SS

    What is the main purpose of a market? a. to allow people to exchange goods and services b. to set prices for goods and services c. to help producers get human resources d.to increase competition between buyers and sellers A A

  4. economics

    Two goods are complements when a decrease in the price of one good a. decreases the quantity demanded of the other good. b. increases the quantity demanded of the other good. c. increases the demand for the other good. d.

  1. Social Studies

    According to the law of demand, low prices serve mostly as a ________ for buyers. a) supply b) reward c) substitute d) penalty Is it b? In economics, what is a substitute? a) a good or service that is more expensive than the one

  2. Micro Economics

    A nation's production possibilities curve is "bowed out" from the origin because a. resources are not equally efficient in producing every good c. resources are scarce d. wants are virtually unlimited . John has a paper route and

  3. Economics

    The price received by sellers in a market will decrease if the government Answer A. imposes a binding price floor in that market. B. decreases a binding price ceiling in that market. C. decreases a tax on the good sold in that

  4. economics

    Suppose the market demand for good A given by Qd= 300 -20 P and the market supply for Good A is given by Qs=20P-100,where P=price of Good A. Q;Graph the supply and demand schedules for Good A using P5 through P15 as the value of

  1. Economics: Price Elasticity

    Please check my answers whether they are correct or not. If not, please help me why they are wrong. Thank you. Question 1: Point: A (300, 1000) Point B: (200, 1200) According to the midpoint method, the price elasticity of demand

  2. econ

    If the price of a good increases, what happens to demand? If the price of a good decreases, what happens to supply? Does a change in price create curve shifts? Use Appendix C

  3. Economics

    How does a persons perception of a good as a neccessity or a luxury effect his or her purchase of it? A. people who have alot of money will buy goods even if they think they are a luxury. B. a good that is perceived as expencive

  4. maths

    a man marks his good at a price that would give him 20% profit. he sells 3/5 of the goods at the marked price and sells the remaining at 20% discount. find his gain % on the whole transaction.

You can view more similar questions or ask a new question.