📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Supply curve represents the relationship between

      product price and quantity of product that a seller is willing and able to supply. Shifting of supply curve rightward would imply which of the following?
      A Increase in profits Correct Answer Incorrect Answer
      B Decrease in profits Correct Answer Incorrect Answer
      C Reduction in quantity supplied Correct Answer Incorrect Answer
      D Reduction in price of its goods Correct Answer Incorrect Answer

      Solution

      · Supply curve of a firm tends to shift rightwards on account of enhanced profitability. Similarly it shifts leftwards when profit is reduced.
      · Technological progress shift the curve rightwards, similarly reduced input cost and reduced unit tax would give the same output.
      [endif]-->

      Practice Next
      More Economy Questions

      Relevant for Exams:

      ask-question