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6 January, 09:54

Which of the following will NOT cause the supply curve for kayaks to shift to the left?

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  1. 6 January, 12:32
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    A decrease in the price of a kayak

    Explanation:

    It's also evident that every change in the market causes a unique price change, quantity combination:

    increasing demand: rising prices, increasing quantity.

    Decline in demand: declines in price, declines in volume.

    Increase in supply: price decline, increase in quantity.

    This Theory of Supply is named by economists. When the price increases, the demanded quantity decreases (but the supply remains the same). When the price falls, the amount required increases. That's the Demand Law.
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