Asked by ALYSSA LANDGREBE on Jun 30, 2024
Verified
All these factors would shift the supply curve of tobacco,except
A) Bad weather
B) Change in the price of tobacco
C) Changes in the wages of agricultural workers
D) A tax charged on the production of tobacco
Supply Curve
A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing and able to supply.
Agricultural Workers
Individuals engaged in farming, cultivating land, and harvesting crops or livestock, often working in varying conditions.
Bad Weather
Unfavorable or destructive atmospheric conditions, including storms, heavy rain, snowfall, hurricanes, or extreme temperatures.
- Discern the influences that drive changes in the curves of supply and demand.
- Grasp the influence of external factors like natural disasters and input costs on market supply.
Verified Answer
ZK
Zybrea KnightJul 04, 2024
Final Answer :
B
Explanation :
Changes in the price of tobacco would not shift the supply curve, as the price is represented on the vertical axis of the supply and demand graph and does not affect the quantity supplied at each price level. However, bad weather, changes in wages, and taxes on production would all affect the cost of producing tobacco and thus shift the supply curve.
Learning Objectives
- Discern the influences that drive changes in the curves of supply and demand.
- Grasp the influence of external factors like natural disasters and input costs on market supply.