$4 S, S2 Ss 0 Number of pizzas Q per week Figure F 15. Refer to Figure F. A decr
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$4 S, S2 Ss 0 Number of pizzas Q per week Figure F 15. Refer to Figure F. A decrease in the wage rate of pizza makers will cause a movement from Point B on supply curve S2 to A) Point A on supply curve S2. B) Point C on supply curve s2. C) supply curve S3. D) supply curve S1. 16. Refer to Figure F. A decrease in quantity supplied is represented by a movement from A) S2 to S3. B) S2 to S1 C) Point B to Point A along supply curve S2 D) Point B to Point C along supply curve S2 17. The price of circuit boards used in the manufacturing of LCD televisions has fallen. This will lead to LCD televisions. A) an increase in the supply of B) a decrease in the supply of C) an increase in the quantity supplied of D) a decrease in the quantity supplied of 18. A technological advance in the production of MP3 players will cause the equilibrium selling price to increase. A) True B) FalseExplanation / Answer
15. Decrease in wage rate decreases cost of production of pizza which causes rightward shift of supply curve from S2 to S3.
C) supply curve to S3
16. D) Point B to Point C along supply curve S2.
Decrease in quantity supplied means downward movement in the supply curve.
17. A) an increase in the supply of
Decrease in the price of circuit boards decreases cost of production of LCD televisions which causes increase in supply of LCD televisions. When supply of good increases due to change in factors other than the price of commodity itself then it causes shift of supply curve.
18. False
Technological advancement shifts supply curve rightwards causing decrease in equilibrium price level.
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