if the price of one of the factors of production used to produce textiles increases, what will happen to the…

if the price of one of the factors of production used to produce textiles increases, what will happen to the supply curve of the textiles?\na movement upward and along the supply curve\na shift of the supply curve inward and to the left\na shift of the supply curve outward and to the right\na movement down and along the supply curve

if the price of one of the factors of production used to produce textiles increases, what will happen to the supply curve of the textiles?\na movement upward and along the supply curve\na shift of the supply curve inward and to the left\na shift of the supply curve outward and to the right\na movement down and along the supply curve

Answer

Brief Explanations:

When the price of a factor of production increases, the cost of producing textiles rises. Producers are less willing and able to supply the same quantity at each price level. This causes a left - ward shift of the supply curve, which is an inward shift. Movements along the supply curve occur due to changes in the price of the good itself, not in the cost of production factors.

Answer:

a shift of the supply curve inward and to the left