which of the following events would shift a supply curve to the left? (1 point)\nthe prices of many inputs…
which of the following events would shift a supply curve to the left? (1 point)\nthe prices of many inputs are dramatically reduced.\nthe price of the good that the firms produce is expected to fall in the near future.\nthe number of sellers in the market increases.\nlocal government increases the taxes that are levied on firms.
Answer
Brief Explanations:
When local government increases taxes on firms, production costs rise. Firms are less willing to supply at each price level, causing the supply curve to shift left. Reduced input - prices increase supply (shift right), expected future price - fall may reduce current production but not always shift supply left immediately, and an increase in the number of sellers increases supply (shift right).
Answer:
Local government increases the taxes that are levied on firms.