which of the following will shift a supply curve? a change in price a change in demand a change in a…
which of the following will shift a supply curve? a change in price a change in demand a change in a resource price a change in consumer incomes
Answer
Brief Explanations:
A change in price causes a movement along the supply curve, not a shift. A change in demand affects the demand - curve. A change in consumer incomes mainly impacts demand. A change in a resource price (input cost) affects production costs and shifts the supply curve. If resource prices increase, supply decreases (shifts left), and if they decrease, supply increases (shifts right).
Answer:
C. A change in a resource price