Quantity supplied Question?
A. The market price of paper increases.
B. The market price of economics textbooks inccreases,
C. The number of publishers of economic textbooks increases.
D. Publishers expect that the market price of economics textbooks will increase next month.
Answer:
jaimelleonard, sorry i dont mean to be rude, but i think
A. will result in a decrease in supply like what the first answerer said. i think you've got your "supply vs quantity supplied" confused.
B.quantity supplied will increase but supply remains constant.
C. there will be an increase in supply(shift of supply curve).
D. publishers will thus respond with a decrease in supply for now, and then increase supply again when the prices by next month, whether or not the price increases.
the only thing that causes a change in "QUANTITY SUPPLIED" or QUANTITY DEMANDED" is the change of its own price, all other factors will result in a change in "SUPPLY" or "DEMAND".
A. Decrease in Supply
B. Quantity supply increase
C. I think this depends on how you are looking at it, if your 1 company in an open market, or the entire market of textbooks.
D. This has no effect on the supply, but it should increase demand for this month.
A. should lead to a decrease in the quantity supplied because people will buy less when it is more expensive and producers of paper should make less to match demand.
b. typically would mean less would be produced because less people would demand them at a higher price, however, economics books aren't something that people really buy unless they need so it will most likely stay the same.
c. would lead to a higher quantity supplied because they would be competing to produce and sell more.
d.would lead to a decrese in the quanitity supplied because they would expect that less peopel would buy them at the higher price.
The real question is how you go about answering these questions.
First, note that 'an increase in supply' means 'an increase in the supply curve (or function), which relates many prices to many quantities (supply is the one that slopes upward).
Second, 'an increase in quantity supplied' is a single number supplied after we finished with pushing and pulling on our supply and (and demand) functions.
A. Draw an X representing supply and demand.
An increase in the price of paper increases the cost of supply. So what happens to the supply curve? The quantity supplied?
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