3 Questions
Which of the following is an example of a supply curve shifter?
Fall in input prices
According to the law of supply, what happens to the quantity supplied when the price of a good rises?
Quantity supplied increases
What is the effect of a cost-saving technological improvement on the supply curve?
Shifts the supply curve to the right
Test your knowledge on supply and the factors that impact it with this quiz. Learn about the behavior of sellers, the law of supply, and how input prices can affect production. Challenge yourself and enhance your understanding of supply curves and shifters.
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