Exhibit 3-4 Supply curves
-In Exhibit 3-4, which of the following could have caused the shift in the supply curve from S₁ to S₂?

Name: Exhibit 3-4 Supply curves -In Exhibit 3-4, which of the following could have caused the shift in the supply curve from S 1 to S 2 ?
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Question

Exhibit 3-4 Supply curves -In Exhibit 3-4, which of the following could have caused the shift in the supply curve from S₁ to S₂?

Quizplus · Accepted Answer

A decrease in wage rates would lower production costs, allowing suppliers to offer more of the product at each price level, thus shifting the supply curve to the right from S1 to S2.

Exhibit 3-4 Supply Curves