Figure 3-2 -Refer to Figure 3-2. An increase in price of inputs would be represented by a movement from A) A to B. B) B to A. C) S₁ to S₂. D) S₂to S₁.

Name: Figure 3-2 -Refer to Figure 3-2. An increase in price of inputs would be represented by a movement from A) A to B. B) B to A. C) S 1 to S 2 . D) S 2 to S 1 .
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Question

Quizplus · Accepted Answer

An increase in the price of inputs would cause a decrease in supply, shifting the supply curve from S₂ to S₁.

Figure 3-2 -Refer to Figure 3-2. an Increase in Price of Inputs