Which of the following would cause a decrease in supply for good W?

Question

Quizplus · Accepted Answer

A price increase in a key input used to produce good W would raise the production costs of good W, thus leading to a decrease in the quantity supplied at every price level. As a result, the supply curve shifts to the left, indicating a decrease in the supply of good W. Increases in preferences, a technological advance, or consumer income would increase the demand for good W, but not affect its supply.

Which of the Following Would Cause a Decrease in Supply