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15 January, 21:04

In which of the following situations would the price of a good be most likely to increase?

An increase in production costs results from a rise in wages.

A rise in demand happens too quickly for producers to increase production to keep up.

A breakthrough in productive technology enables a company to increase its output.

There's a sudden increase in the number of companies competing to sell the good.

i think b

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  1. 16 January, 00:37
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    I believe the correct answer from the choices listed above is the second option. The price of a good be most likely to increase when a rise in demand happens too quickly for producers to increase production to keep up. Hope this answers the question. Have a nice day.
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