Which of the following events will cause a leftward shift in the supply curve of gasoline?
A) A decrease in the price of gasoline
B) An increase in the wage rate of refinery workers
C) Decrease in the price of crude oil
D) An improvement in oil refining technology
E) all of the above

Question

Quizplus · Accepted Answer

An increase in the wage rate of refinery workers will increase the cost of production for oil companies, leading to a decrease in the supply of gasoline and a leftward shift in the supply curve. The other choices mentioned in the question (A, C, and D) would cause a rightward shift in the supply curve of gasoline because they would increase the quantity of gasoline supplied at every price point.

Which of the Following Events Will Cause a Leftward Shift