59. Refer to the above diagram, which shows three supply curves for corn. Which of the following would cause the change in the supply of corn illustrated by the shift from S1to S3?A) A decrease in the cost of equipment used in corn farmingB) An increase in the price of soybeansC) A decrease in the price of cornD) A change in consumer tastes in favor of cornbreadAnswer: BTopic: SupplyDifficulty: 2 Medium
Learning Objective: 03-02 Bloom’s: Level 2 UnderstandAACSB: Analytic Refer To: 03-58[QUESTION]60. Which would cause a leftward shift in the supply curve for car washes?[QUESTION]61. A fall in the price of milk, used in the production of ice cream, will:[QUESTION]62. A movement along a given supply curve for a product is caused by a change in the:[QUESTION]63. Which would cause an increase in quantity supplied of product A?
A) An improvement in technology affecting the production of AB) An increase in the price of product B, an input in the production of AC) A decrease in the taxes paid by producers of AD) An increase in the price of AAnswer: DTopic: SupplyDifficulty: 2 MediumLearning Objective: 03-02 Bloom’s: Level 1 RememberAACSB: Analytic [QUESTION]64. A plastics manufacturer can make either toys or containers. If the demand for toys increases, then the:Reference: 03-65Use the following to answer questions 65-66:[QUESTION]
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