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If there is a change in the number of producers in the market, which of the following will also change

Elasticity
Opportunity cost
Supply
Demand

User Taffy
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3 votes

Answer:

Supply

Step-by-step explanation:

Supply is the quantity of a product(s) that suppliers are willing to deliver to the market at a particular price. In practice, suppliers will be glad to deliver or sell more when prices are high. High prices attract more suppliers to the market. Should the number of suppliers increase, the quantities supplied in the market will also increase.

Elasticity describes changes in demand for a product due to changes in prices or incomes. Demand for a product is the volume that buyers are willing to purchase at the given price over a specified period. Opportunity cost refers to the forgone option in economic decisions.

User Korywka
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