Which of the following events would lead to a shift of the supply curve from Old supply to New supply? O technological advance in production techniques O increased taxation of raw materials used by producers a natural disaster that causes a shutdown of production decreace in the size of market

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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(Figure: Shift in Supply 1) Use the figure to answer the question.
Price
7/-
Old
supply
New
supply
Quantity
Which of the following events would lead to a shift of the supply curve from Old supply to New supply?
O technological advance in production techniques
O increased taxation of raw materials used by producers
a natural disaster that causes a shutdown of production
O a decrease in the size of the market
Transcribed Image Text:(Figure: Shift in Supply 1) Use the figure to answer the question. Price 7/- Old supply New supply Quantity Which of the following events would lead to a shift of the supply curve from Old supply to New supply? O technological advance in production techniques O increased taxation of raw materials used by producers a natural disaster that causes a shutdown of production O a decrease in the size of the market
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