A shift to the left of a supply curve is caused by:
A)an increase in the number of sellers.
B)a technological improvement in production.
C)an increase in the cost of an input.
D)an increase in the number of buyers.

Question

Quizplus · Accepted Answer

An increase in the cost of an input will increase the cost of production for suppliers, resulting in a decrease in supply and a shift to the left of the supply curve. Choices A, B, and D all relate to factors that could increase supply and shift the curve to the right.

A Shift to the Left of a Supply Curve Is