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Homework answers / question archive / An increase in a product supply curve might be caused by A
An increase in a product supply curve might be caused by
A. some firms entering an industry.
B. an increase in the price of an input (resource).
C. an increase in the price of the product.
D. a decrease in consumer incomes.
E. some firms leaving an industry.
A. some firms entering an industry.
An increase in supply means a shift in the supply curve due to changes in other variables except own price affecting supply. An increase i.e rightward shift of a market supply curve might be caused by an increase in the number of firms in the industry. When new firms join the industry the market supply will increase as a result the supply curve shifts rightwards.
