A rightward shift in the supply curve of a comm... - WAEC Economics 2017 Question
A rightward shift in the supply curve of a commodity is brought about by an increase in?
A
the level of technology
B
the price of the commodity
C
cost of production
D
taxation
correct option: c
Supply curve shift: Changes in production cost and related factors can cause an entire supply curve to shift right or left. This causes a higher or lower quantity to be supplied at a given price. The ceteris paribus assumption: Supply curves relate prices and quantities supplied assuming no other factors change.
Please share this, thanks:
Add your answer
No responses