Which of the following will cause the supply curve toincrease?The price of the good...
Which of the following will cause the supply curve to increase?
The price of the good rises .
Production technology improves .
The number of buyers increases .
The number of sellers decreases .
Homework Answers
The answer is "Production technology improves"
Shift in supply(increase or decrease) happens due to change in other factors rather than price. Increase in supply will result in rightward shift in supply curve. Other factors that result in shift in supply curve are -
- Favourable natural conditions
- Fall or rise in input cost (cost of production)
- Improved technology
- Government subsidy or higher taxes and excessive regulation
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Which of the following will cause the supply curve toincrease?The price of the good...
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22. Which of these statements best represents the law of supply? a. When input prices increase,...
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An increase in the price of a substitute good would cause:
QUESTIN 5 An increase in the price of a substitute good would cause: An increase in the demand of our good and the price would increase An increase in the supply of our good and the price would increase A decrease in the demand of our good and the price will increase A decrease in the supply of our good and the price will fall QUESTIN 6 If there is a freeze in Florida that destroys half of the orange crop there, what effect would that have...
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