Which of the following is a non-price determinant of supply?
A) the price of related goods consumers may buy
B) technological advances in production
C) consumers' incomes
D) the number of consumers

Question

Quizplus · Accepted Answer

Technological advances in production are a non-price determinant of supply as they affect the ability of firms to produce goods more efficiently and at lower costs, increasing the quantity of goods that can be supplied at any given price level. The other options listed are all price determinants of supply as they affect the willingness of producers to supply goods at different price levels.

Which of the Following Is a Non-Price Determinant of Supply