1. What affect does a rise in the cost of raw materials have on the cost of a good?
(a) A rise in the cost of raw materials lowers the overall cost of production.
(b) The good becomes cheaper to produce.
(c) The good becomes more expensive to produce.
(d) This does not have any affect on the eventual price of a good.
2. When government actions cause the supply of a good to increase, what happens to the supply curve for that good?
(a) It shifts to the left.
(b) It shifts to the right.
(c) It reverses direction.
(d) The supply curve is unaffected.
answer
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “1. What affect does a rise in the cost of raw materials have on the cost of a good? (a) A rise in the cost of raw materials lowers the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
If a certain type of clothing becomes more fashionable, we would expect that its price a. will decrease and quantity will remain constant b. and quantity will both decrease c. will increase and quantity will decrease d.
Answers (1)
Pharmacie & Upjohn, a pharmaceutical company, uses a functional structure (research, development, manufacturing, and marketing) within each of its three largest major product divisions. This company is an example of a:
Answers (1)
Which aspect of marketing (branding, promotion, or market research) is the most important for companies to consider when doing business in the global economy, and why? Write one or two paragraphs to respond to this question.
Answers (1)
When studying finance or economics, the cost of a decision is also known as a (n) O personal cost. O financial cost. long-term cost. O opportunity cost.
Answers (1)
The Andean nation of Bolivia is poor, but rich in natural attractions that fuel a growing ecotourism economy. True or false?
Answers (1)
New Questions in Business
Are designed to summarize and report on the company's basic operations using data supplied by the transaction processing systems?
Answers (1)
Which statement is descriptive of the long run rather than the short run? The firm must pay an electric bill that varies each month as well as a mortgage payment of $10,000 per month.
Answers (1)
When builders were constructing a sidewalk they forgot to include an expansion joint between two of the?
Answers (1)
Included in Waterway Company's December 31, 2017, trial balance are the following accounts: Accounts Payable $221,600, Pension Liability $384,400, Discount on Bonds Payable $32,700, Unearned Rent Revenue $41,100, Bonds Payable $400,600, Salaries and
Answers (1)
The law of increasing opportunity costs is a result of the fact that: a. A) the value of the dollar has declined over time. b. B) wage rates rise as the economy reaches full employment. c.
Answers (1)