Suppose that the table shows the quantity supplied of UGG boots at five different prices in 2020 and in 2021 Refer to the table and note the change in the supply of UGG boots from 2020 to 2021 Which of the following could explain the change in supply observed in 2021? (Check all that apply) A. A decrease in the demand for UGG boots B. A decrease in the number of sellers C. An increase in the price of a substitute in production. D. A decrease in the price of UGG boots Price $ 160 170 180 190 200 Quantity Supplied 2020 40,000 45,000 50,000 55,000 60,000 Quantity Supplied 2021 30,000 35,000 40,000 45,000 50,000

Suppose that the table shows the quantity supplied of UGG boots at five different prices in 2020 and in 2021 Refer to the table and note the change in the supply of UGG boots from 2020 to 2021 Which of the following could explain the change in supply observed in 2021? (Check all that apply) A. A decrease in the demand for UGG boots B. A decrease in the number of sellers C. An increase in the price of a substitute in production. D. A decrease in the price of UGG boots Price $ 160 170 180 190 200 Quantity Supplied 2020 40,000 45,000 50,000 55,000 60,000 Quantity Supplied 2021 30,000 35,000 40,000 45,000 50,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that the table shows the quantity supplied of UGG boots at five different
prices in 2020 and in 2021
Refer to the table and note the change in the supply of UGG boots from 2020 to
2021
Which of the following could explain the change in supply observed in 2021?
(Check all that apply)
A. A decrease in the demand for UGG boots.
B. A decrease in the number of sellers
C. An increase in the price of a substitute in production.
D. A decrease in the price of UGG boots
Price
$ 160
170
180
190
200
Quantity
Supplied
2020
40,000
45,000
50,000
55,000
60,000
Quantity
Supplied
2021
30,000
35,000
40,000
45,000
50,000

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