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Marat540 [252]
3 years ago
9

Describe five factors that may cause a shift in a good’s supply curve. Explain how other goods could impact the supply of a good

History
1 answer:
Elis [28]3 years ago
6 0

Answer:

Five factors that may cause a shift in a good’s supply curve is discussed below in details.

Explanation:

Five factors that may cause a shift in a good’s supply curve are such as:

  • Improvement in technology leading to a fall in the cost of production.
  • Reduction in factor costs creating a reduction in the factor of production.
  • Increase in the number of firms in the Industry. It causes an increase in market supply even when the price of the commodity remains the same.
  • The decrease in the cost of competing for merchandise. it promotes the producer to trade more at the current prices.
  • The decrease in taxation increases sales due to decreases in the cost of production.
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