Suppose that many people who earn a living raising cows decide they can make more money selling honey and switch occupations. How will this change affect the amount of beef supplied by producers

Question

Business

Skyla Mcknight

7 September, 18:24

Suppose that many people who earn a living raising cows decide they can make more money selling honey and switch occupations. How will this change affect the amount of beef supplied by producers

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Answers (1)

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Ali Hunt · Answer 1

There will be a decrease in supply.

Explanation:

As many beef producers are determined to change their profession and sell honey to earn more money, this situation will be configured as a decrease in the supply of beef.

The supply curve is affected by changes in costs or changes related to factors of production, which can interfere with the curve causing it to shift to the right or to the left, which generates a greater or lesser quantity of a good or service offered. at a certain price.