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.

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Definitions:

Steroids

A class of lipophilic compounds characterized by a core structure of four fused carbon rings, varying by the functional groups attached and serving in various biological roles.

Sesquiterpene

A class of terpenes that consist of three isoprene units and have the molecular formula C15H24.

Steroid

A type of organic molecule with a characteristic molecular structure containing four rings of carbon atoms (three six-membered and one five-membered).

Terpenes

A large and diverse class of organic compounds, produced by a variety of plants, characterized by their strong smell and used in a wide range of applications, including perfumes and medicines.