Refer to the diagram, which shows demand and supply conditions in the competitive market for product X.Other things equal, a shift of the supply curve from S0 to S1 might be caused by a(n) : 
A) increase in the wage rates paid to the labours employed in the production of X.
B) government subsidy per unit of output paid to firms producing X.
C) decline in the price of the basic raw material used in producing X.
D) increase in the number of firms producing X.
Correct Answer:
Verified
Q117: If producers must obtain higher prices than
Q121: If the supply schedule for a product
Q127: An unusually bountiful crop of coffee beans
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents