Procter & Gamble Co. is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap to left . Which is the exception? a. an increase in the price of bar soap b. an increase in the price of a key ingredient of liquid soap c. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap d. a decrease in the price of liquid soap e. an increase in the wage rate for factory workers who produce liquid soap
Procter & Gamble Co. is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap to left . Which is the exception? a. an increase in the price of bar soap b. an increase in the price of a key ingredient of liquid soap c. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap d. a decrease in the price of liquid soap e. an increase in the wage rate for factory workers who produce liquid soap
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter6: Simple Pricing
Section: Chapter Questions
Problem 7MC
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Procter & Gamble Co. is a major soap producer. All of the following, except one, would
shift its supply curve of liquid soap to left . Which is the exception?
a. an increase in the price of bar soap
b. an increase in the price of a key ingredient of liquid soap
c. environmental regulations force Procter & Gamble to use a more costly
technology to produce liquid soap
d. a decrease in the price of liquid soap
e. an increase in the wage rate for factory workers who produce liquid soap
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