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otugo: 1 year ago

List four shift factors of supply and explain how each affects supply

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Answer 1

KevinAM: 1 year ago

Four factors of supply that leads to a shift in the supply curve are; costs of production, government taxation, weather and climatic changes, price of substitute products and the number of producers. The supply curve would shift to the right hand side to indicate an increase in supply in the following cases; if costs of production and government taxation reduce, the number of producers increase and the price of substitute products reduces so that there is little competition for prices. Therefore a shift to the left would actually be the direct opposite.

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