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All of the following will cause a shift in the supply of jeans EXCEPT Select one: a
All of the following will cause a shift in the supply of jeans EXCEPT Select one:
a. a decrease in the prices of jeans.
b. a decrease in the number of jean manufacturers.
c. an increase in the cost of producing jeans.
d. a per-unit government subsidy on the production of jeans.
Expert Solution
The correct option is: a. a decrease in the prices of jeans.
According to the law of supply, holding all the other factors constant, the quantity supplied of a good or service increases as the price increases and it decreases as the price increases. Thus, an increase in the price of the good or service will cause a movement along the supply curve while a change in any other factor that affects the quantity supplied will cause a shift in the supply curve.
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