Answered: 12. When a producer moves down on the…

12. When a producer moves down on the supply curve, it is called ______. a. Increase of supply b. Decrease of supply c. Extension of supply d. Contraction of supply

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 8QR

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Question

12. When a producer moves down on the supply curve, it is called ______.

Increase of supply

Decrease of supply

Extension of supply

Contraction of supply

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