What is the first determinant of supply?
A)Technology
B)Expectations of suppliers
C)Input prices
D)Elasticity

Question

Quizplus · Accepted Answer

Input price is the first determinant of supply.
Key Takeaway: The input is simply all of the resources that go into the creation of a product. When a producer is making their good, they must always take the price of the inputs into account. If the price of any of the input resources rises, it will cost the producer more to produce their goods and he/she will typically offer fewer of them.

What Is the First Determinant of Supply