Question

The supply of a good available in a market is likely to decrease when:

A. new technology makes producing the product cheaper.

B. the number of workers able to make the product increases

C. new regulations increase the cost of making the product.

D. companies believe that the product's selling price will go up.

Answer 1

Answer:

fe workers have the skills needed to create the product

Explanation:

just took the test

Answer 2

The supply of a good available in a market is likely to decrease when: C. new regulations increase the cost of making the product.

• The new technology is likely to make the product cheaper the low cost will increase the demand of the product so the supply will also increase. Hence, A is incorrect option.
• If the number of workers are able to increase the production then the supply of good will also increase. Hence, B is incorrect option.
• If the companies think that the selling price of the product will go up this will indicate that the demand for product will increase and then the supply will also increase. Hence, D is the incorrect option.
• The new regulation when increase the cost of production of product this likely to decrease the supply because this will increase the overall cost of the product and if the product is expensive fewer people will likely to show interest in its purchase this will reduce the demand of product and thus the supply will also decrease.

Hence, option C. is correct.

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