An increase in the price of a good would:

Name: An increase in the price of a good would:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in the price of a good would give producers an incentive to produce more because they expect to make a higher profit. This increase in production would cause an increase in the supply of the good. Therefore, options A and C can be eliminated. Option B does not make sense because an increase in price would generally lead to a decrease in the amount purchased, not an increase.

An Increase in the Price of a Good Would