Which of the following would shift the supply curve for a good to the left?

Question

Quizplus · Accepted Answer

An increase in the cost of an important resource used to make that good would cause the suppliers to incur higher costs, which would then lead them to raise the price of the good to maintain their profit margins. This increase in the price of the good would lead to a decrease in the quantity supplied at every price, thereby shifting the supply curve to the left.

Which of the Following Would Shift the Supply Curve for a Good