Consider the market for economics textbooks. Explain whether the following events would cause an increase or a decrease in supply or an increase or a decrease in the quantity supplied.
Part 2
a. The market price of editorial services increases. This will cause a(n)
Part 3
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
B. increase in quantity supplied.
Something isn't right
I apologize for the confusion.
In the market for economics textbooks, if the market price of editorial services increases, it would cause a decrease in supply.
The reason is that editorial services are an input or resource used in the production of textbooks. When the price of this input increases, it raises the production costs for textbook publishers. As a result, publishers are less willing or able to produce and supply textbooks at the same level as before, resulting in a decrease in supply.
So, the correct answer would be:
C. decrease in supply.
b. The market price of economics textbooks increases. This will cause a(n)
Part 5
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
The market price of economics textbooks increasing would cause a(n):
B. increase in quantity supplied.
When the price of economics textbooks increases, it provides an incentive for producers to increase their output and supply. Higher prices can lead to higher profit margins for textbook publishers, encouraging them to produce and supply more units of textbooks in order to meet the increased demand. This results in an increase in the quantity supplied.
The number of publishers of economics textbooks increases. This will cause a(n)
Part 7
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
The number of publishers of economics textbooks increasing would cause a(n):
A. increase in supply.
When the number of publishers of economics textbooks increases, it leads to more participants in the market and a greater overall supply of textbooks. Each additional publisher adds to the total quantity of textbooks available in the market, leading to an increase in supply.
d. Publishers expect that the market price of economics textbooks will increase next month. This will cause a(n)
Part 9
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
Publishers expecting an increase in the market price of economics textbooks next month would cause a(n):
B. increase in quantity supplied.
When publishers anticipate a higher market price in the future, they have an incentive to increase their production and supply in order to take advantage of the higher profits. This leads to an increase in the quantity supplied, as publishers strive to meet the anticipated future demand and benefit from the expected price increase.