Which of the following increases the supply of a product?
A) lower prices for the resources used to produce the product
B) some producers going bankrupt and leaving the industry
C) a higher price for the product
D) an increase in the expected future price of the product
E) a decrease in productivity

Question

Quizplus · Accepted Answer

Lower prices for resources used to produce the product will reduce the cost of production, making it profitable for producers to increase production and hence increasing the supply of the product.

Which of the Following Increases the Supply of a Product