Business, 07.10.2020 23:01 13236

The choice of how much to produce depends on a variety of factors. One of the most important factors is the cost of production. Two very important components of the cost of production are resource (input) prices and technology. What happens to the supply curve if the costs of production because resource prices have and available technology has made production ? This change in costs causes supply to ▼ remain unchanged increase decrease . This is seen graphically as ▼ a leftward no a rightward shift in the supply curve.

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The choice of how much to produce depends on a variety of factors. One of the most important factors...

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