29th Oct Theory of Supply Quiz 2 – Punjab Meritorious School Preparation Portal

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In the book market, the supply of books will decrease if any of the following occurs except

a decrease in the number of book publishers

a decrease in the price of the book

an increase in the future expected price of the book

an increase in the price of paper used

The quantity supplied of a good or service is the amount that

is actually bought during a given time period at a given price

producers wish they could sell at a higher price

producers plan to sell during a given time period at a given price

people are willing to buy during a given time penod at a given price

If price of computers increases by 10% and supply increases by 25%. The elasticity of supply in

2.5

0.4

(-)25

(-)04

An increase in the number of sellers of bikes will increase the

The price of a bike

Demand for bikes

The supply of bikes

Demand for helmets

Supply is the

limited resources that are available with the seller

cost of producing a good

entire relationship between the quantity supplied and the price of good

Willingness to produce a good if the technology to produce it becomes available

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