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Mic6: Change in supply vs. change in quantity supplied, Supply determinants
By Jeffrey See
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Last updated over 6 years ago
5 questions
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Question 1
1.
Question 2
2.
Question 3
3.
Question 4
4.
Question 5
5.
Which of the following from the graph above represents a decrease in the
quantity supplied
?
A shift from S2 to S1
A movement from point G to point F
A movement from point F to point G
A shift from S1 to S2
Which of the following does
NOT
cause a change in supply?
Price
Price of inputs/resources
Number of sellers
Technology
Which of the following would shift the supply of
blue jeans
from S to S1 in the graph above?
A decrease in the number of blue jean sellers
New technology that can produce jeans faster than before
The government taxes jeans producers
An increase in the cost of denim, a resource needed to make jeans
Which of the following would shift the supply of
cars
from S to S2 in the graph above?
An increase in the number of car makers
The cost of steel, an input for cars becomes more expensive
The government gives subsidies to car makers
The government reduces taxes on car makers
All the following are determinants/shifters of supply
EXCEPT.
Technology
Taxes
Cost of inputs
Tastes and Preferences
