Dean bakes his famous apple pies and sells them at the local farmer's market. If the price of apples increases, the

Question

Quizplus · Accepted Answer

An increase in the price of apples will increase the costs of production for Dean's pies, leading to a decrease in supply. This is because the cost of inputs has increased, making it more expensive to produce the same quantity of pies. Therefore, the supply curve for Dean's pies will shift to the left, resulting in a decrease in the quantity supplied.

Dean Bakes His Famous Apple Pies and Sells Them at the Local