Which of the following would cause an increase in the equilibrium price of a good? a. Fewer firms are producing this good b. The cost of a key input used to produce this good has fallen. c.Technological advance has increased labor productivity. d. A new study claims consumption of this good is bad for your health.
Which of the following would cause an increase in the equilibrium price of a good? a. Fewer firms are producing this good b. The cost of a key input used to produce this good has fallen. c.Technological advance has increased labor productivity. d. A new study claims consumption of this good is bad for your health.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 6CQQ
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Which of the following would cause an increase in the equilibrium price of a good?
a. Fewer firms are producing this good
b. The cost of a key input used to produce this good has fallen.
c.Technological advance has increased labor productivity.
d. A new study claims consumption of this good is bad for your health.
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