객관식
What happens in the market for blenders if the price of glass, a key component in making blenders, rises?
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3. Supply and Demand
Shifting Supply
객관식
What factors cause the supply curve to shift?
A
Changes in consumer income, tastes/preferences, prices of substitutes and complements, population, and consumer expectations
B
Changes in the product’s own market price; higher prices shift the supply curve right and lower prices shift it left
C
Changes in input (resource) prices, production technology, number of sellers, taxes/subsidies/regulations, prices of related goods, producer expectations, and natural conditions (e.g., weather)
D
Changes in macro policy variables such as government spending, monetary policy, and aggregate demand
검증된 단계별 안내1
Step 1: Understand that the supply curve represents the relationship between the price of a good and the quantity that producers are willing and able to sell, holding other factors constant.
Step 2: Recognize that a change in the product's own price causes a movement along the supply curve, not a shift of the curve itself.
Step 3: Identify the factors that cause the entire supply curve to shift, which means the quantity supplied changes at every price level.
Step 4: List the main factors that shift the supply curve: changes in input (resource) prices, improvements or declines in production technology, changes in the number of sellers in the market, government policies such as taxes, subsidies, and regulations, prices of related goods that producers might switch to, producer expectations about future prices, and natural conditions like weather.
Step 5: Understand that these factors affect producers' costs or incentives, leading them to supply more or less at every price, thus shifting the supply curve either to the right (increase in supply) or to the left (decrease in supply).
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