Thelawofsupplystatesthat,otherthingsequal,anincreasein
A. price causes quantity supplied to increase.
B. price causes quantity supplied to decrease.
C. quantity supplied causes price to increase.
D. quantity supplied causes price to decrease.
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Anincreaseinsupplyisrepresentedbya
A. movement downward and to the left along a supply curve.
B. movement upward and to the right along a supply curve.
C. rightward shift of a supply curve.
D. leftward shift of a supply curve.
Amovementupwardandtotherightalongasupplycurveiscalleda(n)
A. increase in supply.
B. decrease in supply.
C. decrease in quantity supplied.
D. increase in quantity supplied.
Ifthereisashortageoffarmlaborers,wewouldexpect
A. the wage of farm laborers to increase.
B. the wage of farm laborers to decrease.
C. the price of farm commodities to decrease.
D. a decrease in the demand for substitutes for farm labor.
WhichofthefollowingeventsmustresultinahigherpriceinthemarketforSnickers?
A. Demand for Snickers increases, and supply of Snickers decreases.
B. Demand for Snickers and supply of Snickers both decrease.
C. Demand for Snickers decreases, and supply of Snickers increases.
Demand for Snickers and supply of Snickers both increase
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