Describe the changes in the variables that will cause supply for a product to decrease, shifting the supply curve up and to the left

What will be an ideal response?

an increase in wages of workers who produce the product; an increase in the prices of materials or capital used to produce the product; an increase in the per-unit tax on the product; an increase in the expected future price of the product; a decrease in the number of producers of the product.

Economics

You might also like to view...

The assumed goal of the firms that operate in each of the four market structures discussed in the text is to maximize:

A) sales. B) revenue. C) profits. D) price.

Economics

Why is the money multiplier smaller than the simple deposit multiplier?

What will be an ideal response?

Economics