Which of the following is a determinant of supply?(1 point)
Responses
the price of a complement in consumption
the price of a complement in consumption
consumer expectations
consumer expectations
the price of a substitute in consumption
the price of a substitute in consumption
the price of a substitute in production
3 answers
the price of a substitute in production
Which of the following events would shift a supply curve to the left?(1 point)
Responses
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.
Local government increases the taxes that are levied on firms.
Local government increases the taxes that are levied on firms.
The number of sellers in the market increases.
The number of sellers in the market increases.
The prices of many inputs are dramatically reduced.
Responses
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.
Local government increases the taxes that are levied on firms.
Local government increases the taxes that are levied on firms.
The number of sellers in the market increases.
The number of sellers in the market increases.
The prices of many inputs are dramatically reduced.
The prices of many inputs are dramatically reduced.
1 answer