Question

When the price of a product or service rises, this creates incentives for A. the quantity supplied to decrease because of the lower profits. B. the quantity supplied to increase because of covering the lower marginal opportunity costs of production. C. the quantity supplied to increase because of covering the higher marginal opportunity costs of production. D. the quantity supplied to decrease because of covering the higher marginal opportunity costs of production.

          When the price of a product or service rises, this creates incentives for
A. the quantity supplied to decrease because of the lower profits.
B. the quantity supplied to increase because of covering the lower marginal opportunity costs of production.
C. the quantity supplied to increase because of covering the higher marginal opportunity costs of production.
D. the quantity supplied to decrease because of covering the higher marginal opportunity costs of production.

When the price of a product or service rises, this creates incentives for
A. the quantity supplied to decrease because of the lower profits.
B. the quantity supplied to increase because of covering the lower marginal opportunity costs of production.
C. the quantity supplied to increase because of covering the higher marginal opportunity costs of production.
D. the quantity supplied to decrease because of covering the higher marginal opportunity costs of production.

Added by David S.

Principles of Economics

Gregory Mankiw 8th Edition

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When the price of a product or service rises, this creates incentives for A. the quantity supplied to decrease because of the lower profits. B. the quantity supplied to increase because of covering the lower marginal opportunity costs of production. C. the quantity supplied to increase because of covering the higher marginal opportunity costs of production. D. the quantity supplied to decrease because of covering the higher marginal opportunity costs of production. When the price of a product or service rises,this creates incentives for OA. the quantity supplied to decrease because of the lower profits. O B.the quantity supplied to increase because of covering the lower marginal opportunity costs of production. O C.the quantity supplied to increase because of covering the higher marginal opportunity costs of production. D.the quantity supplied to decrease because of covering the higher marginal opportunity costs of production.