Multiple...CHOICE!!?

Question

1 - When the selling price of a good goes up, what is the relationship to the quantity supplied?
a - The cost of production will go down.
b - The profit made on each item goes down.
c - It becomes partical to produce more goods.
d - There is no relationship between quantity supplied and price.


2 - The factor that has the greatest influence on elasticity and inelasticity of supply is:
a - profit.
b - time.
c - labor.
d - financing.


3 - Some industries and companies have added fixed costs because of government:
a - interest groups.
b - subsidies.
c - regulation.
d - de-regulation.

Thank you!

Answer 1

1 c - It becomes partical to produce more goods.

2 b - time.

3 c - regulation.