Other things equal, if the price of a key resource used to produce product X falls, the:
A. |
product supply curve of X will shift to the right. |
B. |
product demand curve of X will shift to the right. |
C. |
product supply curve of X will shift to the left. |
D. |
product supply curve of X will not shift. |
ANSWER:
The correct answer is option a that is product supply curve of x will shift to the right. (as the price of the key resource falls then the production cost will be lesser compared to earlier and therefore supply will increase towards right.)
Other things equal, if the price of a key resource used to produce product X falls,...
5&6
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