Use the following to answer questions:
Figure: Supply Shifts 
-(Figure: Supply Shifts) In the figure, the initial supply curve is S1. If producers form expectations that the price will be lower in the near future, S1 will:
Definitions:
Labor Supply Curve
A graphical representation showcasing the relationship between the wage rate and the quantity of labor workers are willing to supply.
Competitive Firm
A company operating in a market where there are many buyers and sellers, and the firm has little influence over the price of its products.
Competitive Market
A market structure characterized by many buyers and sellers where no single entity can significantly influence prices or market outcomes.
Unions
Organizations formed by workers to protect their rights and interests, typically through collective bargaining with employers.
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