Suppose that at prices of $1,$2,$3,$4,and $5 for product Z,the corresponding quantities supplied are 3,4,5,6,and 7 units,respectively.Which of the following would increase the quantities supplied of Z to,say,6,8,10,12,and 14 units at these prices?

Question

Quizplus · Accepted Answer

Improved technology for producing Z would make it easier and possibly cheaper to produce more units of Z at each price level, leading to an increase in the quantities supplied of Z. An increase in the prices of the resources used to make Z (B) would likely decrease the quantities supplied of Z. An increase in the excise tax on product Z (C) would also likely decrease the quantities supplied of Z. Increases in the incomes of the buyers of Z (D) would affect the quantities demanded of Z, not the quantities supplied.

Suppose That at Prices of $1,$2,$3,$4,and $5 for Product Z,the