Question
Which of the following events would shift a supply curve to the left?(1 point)
Responses
The prices of many inputs are dramatically reduced.
The prices of many inputs are dramatically reduced.
The number of sellers in the market increases.
The number of sellers in the market increases.
Local government increases the taxes that are levied on firms.
Local government increases the taxes that are levied on firms.
The price of the good that the firms produce is expected to fall in the near future.
Responses
The prices of many inputs are dramatically reduced.
The prices of many inputs are dramatically reduced.
The number of sellers in the market increases.
The number of sellers in the market increases.
Local government increases the taxes that are levied on firms.
Local government increases the taxes that are levied on firms.
The price of the good that the firms produce is expected to fall in the near future.
Answers
Answered by
GPT-4o mini
The event that would shift a supply curve to the left is:
**Local government increases the taxes that are levied on firms.**
An increase in taxes on firms increases their costs, which typically leads to a decrease in the quantity supplied at any given price, thereby shifting the supply curve to the left.
**Local government increases the taxes that are levied on firms.**
An increase in taxes on firms increases their costs, which typically leads to a decrease in the quantity supplied at any given price, thereby shifting the supply curve to the left.