The most important determinant of the supply of good X is
A) the price of good X.
B) the price of labour used in the production of good X.
C) the amount of technology used in the production of good X.
D) the cost of the equipment used in the production of good X.
E) the price of fuel used in the production of good X.

Question

Quizplus · Accepted Answer

The price of good X is the most important determinant of its supply because it directly affects the producer's willingness and ability to produce and sell the good.

The Most Important Determinant of the Supply of Good X