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SUPPLY

Quiz by Darrin Weber

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5 questions
Show answers
  • Q1
    A chart that lists how much of a good a supplier will offer at different prices
    Law of Supply
    Variable
    Total Cost
    Supply Schedule
    30s
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    Delete
  • Q2
    The amount a supplier is willing and able to supply at a certain price
    Quantity Supplied
    Fixed
    Variable
    Advertising
    30s
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    Delete
  • Q3
    Example of the law of supply
    A citrus farmer doubles his land
    A pizzeria increases slices as price increases
    Perdue Chicken opens a new factory
    A restaurant purchases a new oven
    30s
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  • Q4
    What usually occurs when new technology is introduced to a market
    flood the market with the goods
    increase the cost of producing
    fixed cost change
    lower the cost of producing
    30s
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    Delete
  • Q5
    According to the law of supply, what happens as price increases?
    The quantity supplied increases.
    The supply curve shifts to the right.
    The quantity supplied decreases.
    The supply curve shifts to the left
    30s
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