An increase in supply is caused by:
A)an increase in input prices.
B)a decrease in the number of sellers in the market.
C)suppliers' expectations of higher prices in the future.
D)an advancement in the technology for producing the good.

Question

Quizplus · Accepted Answer

An increase in supply is caused by an advancement in the technology for producing the good, which allows for greater efficiency and lower production costs. A decrease in the number of sellers in the market, an increase in input prices, or supplier expectations of higher prices in the future would all lead to a decrease in supply.

An Increase in Supply Is Caused By