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A change in supply (a shift in the supply curve) occurs whenever some factor that affects the supply of the good, other than its price, changes. Such variables include:

1. Prices of productive resources. A rise (fall) in the prices of resources shifts the supply curve leftward (rightward).

2. An increase in technology shifts the supply curve rightward.

3. An increase (decrease) in the number of suppliersshifts the supply curve rightward (leftward).

4. Prices of other goods produced, which have two possible relationships:

a) When the price of a substitute in production rises (falls), the supply curve for the good shifts leftward (rightward).

b) A rise (fall) in the price of a complement in production shifts the supply curve rightward (leftward).

5. If the expected future price of the product rises (falls), the supply curve in the present period shifts leftward (rightward).

A change in supply also affects the price and quantity of the product.

1. An increase in supply (a shift rightward of the supply curve) causes the price to fall and the quantity to increase.

2. A decrease in supply (a shift leftward in the supply curve) causes the price to rise and the quantity to decrease

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13y ago
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14y ago

-an increase/decrease in government purchases -a reduction/increase in taxes -an increase/decrease in investor confidence -foreigners develop/lose a taste for American goods or aMericans develop/lose their taste for foreign goods -increase/decrease in money supply

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13y ago

The cost of inputs

Technology changes

Seasonal changes

Taxes and subsidies

Population

Expectations

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14y ago

Any increase in consumption, investment, government spending or net exports

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11y ago

Number of Sellers

Technology

Other Outputs

Resources Available

Expectations

Subsidies and Tax

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13y ago

PRICES

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Q: What are factors affecting supply curve?
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