Question

An increase in the cost of producing video tape shifts the supply curve of video tape ________ and shifts the demand curve for video tape ________. rightward; leftward leftward; leftward leftward; not at all not at all; leftward

Answer 1

An increase in the cost of producing video tape shifts the supply curve of video tape leftward and shifts the demand curve for video tape not at all.

 

In economics, the supply curve is a graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply.