Asked by Jasmine Jackson on May 11, 2024
Verified
Which factor would NOT cause the supply curve to shift?
A) a change in the technology of production
B) a change in factor costs
C) a change in the price of the good
D) a change in suppliers' expectations of future prices
Technology of Production
The methods and processes used in the production of goods and services, which can influence efficiency and output levels.
Factor Costs
The expenses associated with utilizing the factors of production, including labor, capital, and land, to produce goods or services.
Price of the Good
The amount of money required to purchase a specific product or service.
- Comprehend the factors influencing supply within the marketplace.
- Appreciate the role of expectations regarding future prices in supply decisions.
Verified Answer
LR
lizbeth rochaMay 16, 2024
Final Answer :
C
Explanation :
A change in price of the good would lead to a movement along the supply curve, not a shift of the supply curve. The other factors listed can cause a shift in the supply curve.
Learning Objectives
- Comprehend the factors influencing supply within the marketplace.
- Appreciate the role of expectations regarding future prices in supply decisions.