A Leftward Shift of a Product Supply Curve Might Be

question 41

Multiple Choice

A leftward shift of a product supply curve might be caused by

• A)an improvement in the relevant technique of production.
• B)a decline in the prices of needed inputs.
• C)an increase in consumer incomes.
• D)some firms leaving an industry.

---

Definitions:

Implicit Favorite

An underlying preference or bias for a particular option or person that is not explicitly acknowledged.

Preferred Choice

The option that is most favorable or desirable to an individual or group based on their values, needs, or available information.

Emotions

Complex psychological states that involve subjective experience, physiological response, and behavioral or expressive response.

Satisficing

A decision-making strategy that involves selecting an option that meets a minimum level of satisfaction, rather than optimizing outcomes.