Which of the following events would shift a supply curve to the left?(1 point)

Question

Responses

The number of sellers in the market increases.
The number of sellers in the market increases.

The price of the good that the firms produce is expected to fall in the near future.
The price of the good that the firms produce is expected to fall in the near future.

The prices of many inputs are dramatically reduced.
The prices of many inputs are dramatically reduced.

Local government increases the taxes that are levied on firms.

Answer 1

The event that would shift a supply curve to the left is:

Local government increases the taxes that are levied on firms.

When taxes on firms increase, it raises production costs, which typically leads to a decrease in supply at any given price, causing the supply curve to shift to the left.