A decrease in the price of tractors would likely:

Question

Quizplus · Accepted Answer

A decrease in the price of tractors, which are a key input in the production of agricultural products, would reduce the cost of production for farmers. This would likely enable them to produce more at each price level, leading to a rightward shift in the supply curve for agricultural products. This shift indicates an increase in supply, not just a change in the quantity supplied, which would be represented by a movement along the supply curve.

A Decrease in the Price of Tractors Would Likely