If the price of copper rises, which of the following may occur?

History

1 answer:

Daniel [21]2 years ago

4 0

Answer:

The correct option is B, the profits of copper produces increase

Explanation:

Assuming copper is price inelastic, meaning the rise in price would not impact the quantity demanded significantly, the revenue of the suppliers increase and as a result the bottom-line( profits) recorded by the suppliers increase.

A price increase cannot bring about reduction in quantity supplied ads increase in price is an incentive to supply more, hence option A is wrong.

Option C is totally out of context as well as option D

The government is not the one producing the copper let alone increase the content of the copper

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