The supply curve will shift to the right if there is: a change in consumer preferences for the good an increase in the population a decrease in the price of materials used to produce the good an increase in the price of the good
The supply curve will shift to the right if there is: a change in consumer preferences for the good an increase in the population a decrease in the price of materials used to produce the good an increase in the price of the good
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter4: Demand, Supply, And Markets
Section: Chapter Questions
Problem 2QFR
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Question
The supply curve will shift to the right if there is:
a change in consumer preferences for the good
an increase in the population
a decrease in the price of materials used to produce the good
an increase in the price of the good
Expert Solution
Step 1
A supply curve is a graphical representation that describes the relationship between the cost of production and the quantity of product.
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