Indicate Whether Each of the Following Situations Would Shift the Supply

question 30

Short Answer

Indicate whether each of the following situations would shift the supply curve to the left, to the right, or not at all.
a.An increase in the number of firms in the market
b.An increase in the current price of the product
c.A decrease in productivity
d.An increase in the expected future price of a product
e.A decrease in the price of an input

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Definitions:

Surface Traits

Traits that show a correlation but do not constitute a factor because they are not determined by a single source.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, shaping their patterns of thought, feelings, and behaviors.

Factor

An element contributing to a particular result or situation.

Surface Traits

Observable qualities or characteristics of an individual's personality that can easily be inferred from behavior, as opposed to deeper, less observable traits.