along a given supply curve, an increase in the price of a good will: a decrease producer surplus and increase consumer surplus. b increase consumer surplus. c decrease producer surplus. d have no impact on producer surplus, but will decrease consumer surplus. e increase producer surplus.

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08-09-2022
Business

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along a given supply curve, an increase in the price of a good will: a decrease producer surplus and increase consumer surplus. b increase consumer surplus. c decrease producer surplus. d have no impact on producer surplus, but will decrease consumer surplus. e increase producer surplus.

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arshikhan8123 arshikhan8123 · Answer 1 · 2022-09-10T18:02:10+02:00

Along a given supply curve, an increase in the price of a good will increase producer surplus.

Supply curve, in economics, graphic illustration of the relationship between product fee and quantity of product that a supplier is willing and capable of deliver. Product rate is measured at the vertical axis of the graph and amount of product supplied at the horizontal axis.

Why supply curve is upward sloping?

The supply curve is upward sloping because, over time, providers can select how tons of their items to provide and later deliver to market.

What is an example of a supply curve?

If a 50% rise in soybean prices reasons the number of soybeans produced to rise via 50%, the deliver elasticity of soybeans is 1. On the other hand, if a 50% upward thrust in soybean expenses most effective will increase the quantity furnished through 10 percentage, the supply elasticity is 0.2.

What causes a supply curve?

Changes in manufacturing fee and associated factors can cause a whole supply curve to shift proper or left. This causes a better or lower amount to be provided at a given rate. The ceteris paribus assumption: supply curve relate expenses and quantities supplied assuming no other factors change.

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