Which of the following causes a leftward shift of the supply curve?
A)An increase in the number of producers
B)An increase in the cost of production
C)A government subsidy on production
D)An increase in the price of the good being sold
E)An improvement in production technology

Question

Quizplus · Accepted Answer

An increase in the cost of production, such as an increase in the price of raw materials or a rise in wages, will cause producers to supply less of the good at each price level, resulting in a leftward shift of the supply curve.

Which of the Following Causes a Leftward Shift of the Supply