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

Question

Responses

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

The number of sellers in the market increases.

Answer 1

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 would increase the costs of production for firms, leading to a decrease in supply. The other options would either increase supply or not affect it significantly.