A leftward shift of a product supply curve might be caused by
A. an improvement in the relevant technique of production.
B. some firms leaving the industry.
C. a decline in the prices of needed inputs.
D. an increase in consumer incomes.
Answer: B
Economics
You might also like to view...
What are the reasons for the development and growth of the Eurodollar market?
What will be an ideal response?
Economics
The notion of reciprocity means that one nation will impose import restrictions on another in order to:
a. stimulate an increase in trade restrictions in the latter. b. stimulate a decrease in trade restrictions in the latter. c. eliminate trade restrictions immediately in both countries. d. improve the government revenue collections through tariffs in both countries. e. enforce standards of product quality in the latter.
Economics