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Question
Fill in the blank.
If the market supply of a commodity X changes due to a rise in the price of factor input, the market supply curve will ____________.
Solution
If the market supply of commodity X changes due to a rise in the price of factor input, the market supply curve will shift leftwards.
RELATED QUESTIONS
Explain the difference between “Shift of Supply Curve” and “Movement along Supply Curve”. State one factor responsible for each. Use diagrams.
When does 'shift' in supply curve take place?
What is 'change in supply'? Explain the effect of tax imposed on a good on the supply of the good.
Which of the following does not cause shift of supply curve of a good?
(Choose the correct alternative)
(a) Price of input
(b) Price of the good
(c) Goods and services tax
(d) Subsidy
Fill in the blank.
If the market supply of a commodity X changes due to improvement in technology, the market supply curve will ___________.
Choose the correct answer from given options
If the supply curve is a straight line parallel to the vertical axis (Y-axis), supply of the good is called as _________.
Which one of the following will cause a rise in the equilibrium price of rice when the demand for rice remains the same?
An increase in the number of firms in the market causes a rightward shift in the market supply curve, but the individual supply curve may shift leftward. Justify the statement.
