Question

For each of the following changes in the market for apples, explain why the supply of apples will

Answer 1

1. When the tax on apples is reduced, it becomes cheaper to sell apples. This would lead to an increase in supply.
2. The invention of the machine would lead to an increase in the efficiency of picking apples. This would lead to an increase in supply.
3. If the wages of apple pickers is increased, the cost of picking apples for an apple seller would increase. This would lead to a decrease in the supply of apples.
4. The step taken by the orchard owners would lead to less apples been available. This would lead to a decrease in the supply of apples.
5. If it is apple season, trees would produce more apple. This would lead to an increase in the supply of apples.

Supply measures the quantity of a good that is produced at a given price. Only a change in the price of a good leads to an increase or decrease in the quantity supplied of the good. Other factors lead to a change in the supply of a good.

Factors that lead to a change in the supply of a good

• A change in the number of suppliers
• A change in government policies.
• A change in the cost of production
• A change in the price of substitute products

An increase in supply leads to a rightward shift of the supply curve, while a decrease in supply leads to a leftward shift of the supply curve

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