18. how would supply shift caused by lower costs of production affect price and quantity?
a. higher price, lower quantity
b. lower price, lower quantity
c. lower price, higher quantity
d. higher price, higher quantity

19. what does a relative price compare?
a. the price different sellers ask for the same good
b. the price that buyers pay to
c. the price that sellers ask the price of one good or service to another
d. the price that a seller wants to pay to the price that the seller actually pays

18. c. lower price, higher quantity

19. c. the price that sellers ask the price of one good or service to another

Explanation:

When production costs decrease, suppliers are willing to offer more units which causes the supply quantity to increase. Then, the price will decrease so the suppliers will be able to sell the quantity offered.

A relative price is the price of a product or service in terms of another one. For example, if a cappuccino costs $2 and a coffee $1, the relative price is 2:1 which means that when you buy a cappuccino you lose out on 2 coffees.

stewards ice box was the purchase of alaska from russia and it was called that because people thought it was not a good idea to purchase alaska