Which one of the following will result in a decrease in the quantity of precast concrete walls supplied, illustrated by a downward movement along the supply curve? A. An increase in wage rates in the industry. B. A decline in productivity in the industry. C. An increase in the price of cement. D. A decrease in the price of precast concrete walls. E. An increase in the cost of equipment required to manufacture concrete slabs.
Which one of the following will result in a decrease in the quantity of precast concrete walls supplied, illustrated by a downward movement along the supply curve? A. An increase in wage rates in the industry. B. A decline in productivity in the industry. C. An increase in the price of cement. D. A decrease in the price of precast concrete walls. E. An increase in the cost of equipment required to manufacture concrete slabs.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which one of the following will result in a decrease in the quantity of precast concrete walls
supplied, illustrated by a downward movement along the supply curve?
A. An increase in wage rates in the industry.
B. A decline in productivity in the industry.
C. An increase in the
D. A decrease in the price of precast concrete walls.
E. An increase in the cost of equipment required to manufacture concrete slabs.
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