Which market change would lead to a shift of the supply curve fromOld supplytoNew supply? O a. a drop in the number of consumers of this product a decrease in income taxes on consumers O b. O C. O d. an expectation that future prices of the product will be lower fewer sellers in the market
Which market change would lead to a shift of the supply curve fromOld supplytoNew supply? O a. a drop in the number of consumers of this product a decrease in income taxes on consumers O b. O C. O d. an expectation that future prices of the product will be lower fewer sellers in the market
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:(Figure: Shift in Supply 2) Use the figure to answer the question.
Price
New
supply
7%
Old
supply
Quantity
Which market change would lead to a shift of the supply curve fromOld supplytoNew supply?
O a. a drop in the number of consumers of this product
O b. a decrease in income taxes on consumers
O C. fewer sellers in the market
O d. an expectation that future prices of the product will be lower
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