Which of the Following Shifts the Supply Curve for Good

question 468

Multiple Choice

Which of the following shifts the supply curve for good X leftward?

• A) a situation in which quantity demanded exceeds quantity supplied
• B) an increase in the cost of the machinery used to produce X
• C) a technological advance in the production of X
• D) a decrease in the wages of workers employed to produce X

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Definitions:

Supply

Refers to the total amount of a specific good or service that is available to consumers.

Excess Supply

A scenario in which the supply of a good or service available from sellers surpasses what buyers want to purchase at the existing price.

Price Of Burritos

The amount of money required to purchase a burrito, often influenced by factors like ingredients cost, demand, and location.

Demand Shifts

Movements of the demand curve to the left or right, indicating a change in the quantity demanded at every price.