Ask Question
9 June, 11:57

Which of the following will shift the supply curve to the left?

a. An increase in the price of inputs to production.

b. A change in consumer tastes and preferences.

d. Government deregulation of production.

+4
Answers (1)
  1. 9 June, 14:49
    0
    The correct answer is option a.

    Explanation:

    An increase in the price of inputs of production will cause an increase in the cost of production. The firm will now be able to produce less at the same cost.

    As a result, the supply of the commodity will decline. this causes the supply curve to shift to the left further causing an increase in the price of the product.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following will shift the supply curve to the left? a. An increase in the price of inputs to production. b. A change in ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers