A supply curve is directly affected by ?
Correct answer: D. all of the above
- A. technology
- B. input costs
- C. government regulation
- D. all of the above
Explanation
Technology, input prices, and government regulations can all shift the supply curve by changing producers’ costs or productive capacity. Therefore, all the listed factors directly affect supply.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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