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Of the following, which situation would cause the shift of the supply curve from S1 to S2? D P1 P2 Q1Q2 Quantity A. Drought reduces output by 25% B. New fertilizers increase crop yields Price

Of the following, which situation would cause the shift of the supply curve from S1 to S2? D P1 P2 Q1Q2 Quantity A. Drought reduces output by 25% B. New fertilizers increase crop yields Price

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Of the following, which situation would cause the shift of the supply curve from S1 to S2? S1 P1 P2 Q1 Q2 Quantity A. Drought reduces output by 25% B. New fertilizers increase crop yields C. The government reduces subsidies to wheat farmers D. Firms exit the wheat industry Price
Transcribed Image Text:Of the following, which situation would cause the shift of the supply curve from S1 to S2? S1 P1 P2 Q1 Q2 Quantity A. Drought reduces output by 25% B. New fertilizers increase crop yields C. The government reduces subsidies to wheat farmers D. Firms exit the wheat industry Price
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A shift in supply curve may cause due to various such as change in number of firms, raw material, input resources, and so on.

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