Question

suppose the price of an important input in the production of books were to increase. what can be concluded about the quantity of books supplied at a price of $16?

Answer 1

The conclusion that can be drawn about the number of books supplied for $16 when an important production input of books increases is that the quantity supplied is reduced.

How do production costs affect supply?

When production costs (input) increase, the quantity supplied at a given price decreases.

Conversely, a decrease in production costs increases the quantity supplied.

Thus, the conclusion that can be drawn about the number of books supplied for $16 when an important production input of books increases is that the quantity supplied is reduced.

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