15.0k views
0 votes
Which of the following will cause a change in the quantity supplied?

A. A change in technology.
B. A change in the price of the good AND a change in technology.
C. None of these
D. A change in the price of the good
E. An increase in income for people buying the good

User Msmkt
by
8.5k points

1 Answer

1 vote

Final answer:

A change in the price of the good (D) will cause a change in the quantity supplied, which is consistent with the law of supply.

Step-by-step explanation:

The student asked which of the following will cause a change in the quantity supplied: A. A change in technology. B. A change in the price of the good AND a change in technology. C. None of these D. A change in the price of the good E. An increase in income for people buying the good.

The correct answer is D. A change in the price of the good. According to the principles of supply in economics, a change in the price of a good will result in a change in the quantity supplied of that good. This is a reflection of the law of supply, which states that there is a direct relationship between price and the quantity of a good supplied: as prices increase, firms are willing to supply more of the good because it becomes more profitable to do so.

Technological improvements, while they may affect total supply by shifting the supply curve to the right, they do not specifically change the quantity supplied at a given price. The quantity supplied changes only when there is a change in the product's own price.

User Friendly Crook
by
7.7k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories