Which of the Following Will Cause a Shift to the Left

question 72

Multiple Choice

Which of the following will cause a shift to the left of the supply curve?

• A) Increases in the market price of the good being supplied, other things being equal.
• B) Increases in taxes per unit of output.
• C) Advances in technology.
• D) Decreases in input prices.

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Definitions:

Supply Function

A numerical model illustrating how the amount of a product provided is related to its cost.

Subsidy

A subsidy is a financial contribution provided by the government or a public body to support businesses, consumers, or sectors, reducing the price of goods or services.

Supply Function

A supply function is a mathematical relation that shows how the quantity supplied of a good is influenced by its price and possibly other factors, such as production cost.

Demand Function

A mathematical equation that describes the quantity of a good that consumers are willing and able to purchase at various prices.