An increase in the price of ink will shift the supply curve for pens to the left.

Name: An increase in the price of ink will shift the supply curve for pens to the left.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in the price of ink, which is a raw material for making pens, raises the production costs for pens. As a result, manufacturers are willing to supply fewer pens at each price level, leading to a leftward shift in the supply curve.

An Increase in the Price of Ink Will Shift the Supply