Saturday
July 26, 2014

Homework Help: Economics

Posted by Cathy on Monday, May 11, 2009 at 6:57pm.

Could you please check these thanks.

Directions: Supply can decrease and increase depending upon several factors. Also you must put if that factor increase/decreases amount of supply, if the supply curves to the left/right, and if the cost to produce is increasing/decreasing

Factors:

Cost of resources (decreasing):
Amount of supply: decreases
Supply shift curve: right
Cost To Produce: decreases

Cost of resources (increasing):
Amount of supply: increases
Supply shift curve: left
Cost to produce: increases

Productivity (decreases):
Amount of supply: increases
Supply shift curve: left
Cost to produce: increases

Productivity (increases):
Amount of supply: decreases
Supply shift curve: right
Cost to produce: decreases

New Technology/Speed of production (increases):
Amount of supply: increases
Supply shift curve: right
Cost to produce: decreases

Higher taxes:
Amount of supply: decreases
Supply shift curve: left
Cost to produce: increase

Lower taxes:
Amount of supply: increases
Supply shift curve: right
Cost to produce: decrease

Government pays subsidy:
Amount of supply: decreases
Supply shift curve: left
Cost to produce: increases

Demand Expected (increases):
Amount of supply: decreases
Supply shift curve: left
Cost to produce: increases

Demand Expected (decreases):
Amount of supply: increases
Supply shift curve: right
Cost to produce: decreases

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