Figure 4-16
-Refer to Figure 4-16. If the supply curves that are drawn represent supply curves for single-family residential houses, then the movement from S to S' could be caused by a(n)

Question

Figure 4-16 
-Refer to Figure 4-16. If the supply curves that are drawn represent supply curves for single-family residential houses, then the movement from S to S' could be caused by a(n)

Quizplus · Accepted Answer

A decrease in the price of lumber, a key input in house construction, would reduce costs for builders, leading to an increase in supply, shifting the supply curve from S to S'.

Figure 4-16 -Refer to Figure 4-16. If the Supply Curves That Are