The location of the supply curve of a product depends on:

Question

Quizplus · Accepted Answer

The supply curve of a product depends on all of the factors listed in the answer choices. The technology used in production affects the efficiency and cost of production, which can affect the willingness of sellers to supply the product at different prices. The prices of resources used in production also affect the cost of production and therefore the supply curve. Finally, the number of sellers in the market can affect the overall supply of the product and the competitiveness among sellers. Therefore, all of these factors are key determinants of the location of the supply curve.

The Location of the Supply Curve of a Product Depends