The location of the supply curve of a product depends on:

Question

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The location of the supply curve of a product depends on all of the above- the technology used to produce it, the prices of resources used in its production, and the number of sellers in the market. The technology used to produce a product affects the efficiency of production and thus the cost of production, which in turn affects the supply curve. Similarly, the prices of the resources used in production, such as labor and raw materials, affect the cost of production and thus the supply curve. The number of sellers in the market affects the level of competition, which can also affect the supply curve. Therefore, all of these factors are important in determining the location of the supply curve.

The Location of the Supply Curve of a Product Depends