Narrbegin Exhibit 3.3 Supply curves

-In Exhibit 3.3, a shift in the supply curve from S₁ to S₂ is possible because of:

Question

Narrbegin Exhibit 3.3 Supply curves -In Exhibit 3.3, a shift in the supply curve from S₁ to S₂ is possible because of:

Quizplus · Accepted Answer

A shift in the supply curve can occur due to changes in the cost of production, which can be influenced by technological innovation. Subsidies to consumers (A) may affect demand, but not supply, and higher taxes on producers (B) would increase costs, leading to a leftward shift in the supply curve. Changes in consumer preferences (C) would also affect demand and not supply.

Narrbegin Exhibit 3.3 Supply Curves