In which of the following situations would the price of a good be most likely to increase?

An increase in production costs results from a rise in wages.

A rise in demand happens too quickly for producers to increase production to keep up.

A breakthrough in productive technology enables a company to increase its output.

There's a sudden increase in the number of companies competing to sell the good.

i think b

Question

Business

Natalya

19 November, 09:18

In which of the following situations would the price of a good be most likely to increase?

An increase in production costs results from a rise in wages.

A rise in demand happens too quickly for producers to increase production to keep up.

A breakthrough in productive technology enables a company to increase its output.

There's a sudden increase in the number of companies competing to sell the good.

i think b

+1

Answers (1)

Know the Answer?

Amaris Buckley · Answer 1

I believe the correct answer from the choices listed above is the second option. The price of a good be most likely to increase when a rise in demand happens too quickly for producers to increase production to keep up. Hope this answers the question. Have a nice day.