In which of the following situations would the price of a good be most likely to increase? a. a breakthrough in productive technology enables a company to increase its output. b. an increase in production costs results from a rise in wages. c. there's a sudden increase in the number of companies competing to sell the good. d. a drop in demand happens too quickly for producers to decrease production to keep up.
I just took it and C was not right
An increase in production costs results from a rise in wages.
a p e x
Due to a rise in demand, producers reduce supply, hence leading to an increase in price.
more details would be great