The supply curve is influenced by

Question

Quizplus · Accepted Answer

The supply curve is influenced by the prices of the inputs required to produce the product. This is because a change in the price of an input will affect the cost of production, which in turn affects the willingness of producers to supply the product at different price levels. The income of consumers and the number of customers in the market, on the other hand, affect the demand curve. The price of the product being produced is already reflected in the supply curve, as it represents the price at which producers are willing to supply a particular quantity of the product.

The Supply Curve Is Influenced by