Asked by Travis Badger on May 12, 2024
Verified
Which influence does NOT shift the supply curve?
A) people deciding that they want to buy more of the product
B) a decrease in the price firms expect to receive in the future
C) a rise in the wages paid to workers
D) the development of a new production technology
Supply Curve
A graphical representation showing the relationship between the quantity of a good that producers are willing to sell and the price of the good.
Firms Expect
The anticipations or outlooks that companies have regarding future economic conditions or their own financial performance.
Wages Paid
The amount of money that is given to employees as compensation for their labor or services performed during a specific period.
- Familiarize oneself with the determinants impacting market supply levels.
- Differentiate between movements along the supply curve and shifts in the supply curve.
Verified Answer
ME
maleah evansMay 17, 2024
Final Answer :
A
Explanation :
The demand for a product is what drives people to purchase more of it, and it is therefore an influence on the demand curve, not the supply curve. The other options are all factors that can shift the supply curve. B represents a decrease in expected future prices, which may mean firms are more willing to supply the good now; C represents an increase in labor costs, which reduces profits and thus reduces supplier interest; D represents an advancement in technology, leading to increased efficiency and lower production costs.
Learning Objectives
- Familiarize oneself with the determinants impacting market supply levels.
- Differentiate between movements along the supply curve and shifts in the supply curve.