Asked by Nitin Bhogaraju on Jul 29, 2024
Verified
Which of these is likely to decrease the supply of leather jackets?
A) An increase in the price of leather jackets
B) An increase in the price of leather
C) A decrease in the price of zippers
D) An increase in the demand for leather jackets
E) A decrease in consumer income
Leather Jackets
Durable outerwear made from the tanned hide of animals, primarily used for fashion, protection, and in motorcycle attire.
Consumer Income
represents the total earnings received by consumers, including wages, salaries, benefits, and income from investments, influencing their purchasing power.
- Gain insight into what contributes to the transformation of supply curves.
- Acknowledge how the cost of inputs affects the overall production expenses and the quantity supplied.
Verified Answer
AB
annie bouquettJul 29, 2024
Final Answer :
B
Explanation :
An increase in the price of leather, which is an input in the production of leather jackets, would likely increase the cost of production for manufacturers. This would lead to a decrease in the supply of leather jackets, as it would become less profitable to produce them.
Learning Objectives
- Gain insight into what contributes to the transformation of supply curves.
- Acknowledge how the cost of inputs affects the overall production expenses and the quantity supplied.
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