A leftward shift in the supply curve of product A indicates a decrease in supply
such as we might expect from the rise in resource prices used in the production of product A.

Question

A leftward shift in the supply curve of product A indicates a decrease in supply
 such as we might expect from the rise in resource prices used in the production of product A.

Quizplus · Accepted Answer

A leftward shift in the supply curve indicates a decrease in supply, which can be caused by factors such as an increase in the prices of resources used in production, making it more costly to produce the product.

A Leftward Shift in the Supply Curve of Product a Indicates