Which of the following events would shift a supply curve to the left?

• A. A technological improvement in production
• B. An increase in the cost of production inputs
• C. A decrease in the price of the good
• D. An increase in the number of suppliers

Answer: (B)

Verified step by step guidance

1. Understand that a supply curve shows the relationship between the price of a good and the quantity supplied, holding other factors constant.
2. Recall that a leftward shift of the supply curve means a decrease in supply at every price level, which typically happens when production becomes more costly or difficult.
3. Analyze each event: a technological improvement usually makes production more efficient, shifting supply to the right (increase in supply), so it does not cause a leftward shift.
4. An increase in the cost of production inputs raises the cost of producing the good, which reduces supply and shifts the supply curve to the left.
5. A decrease in the price of the good causes movement along the supply curve, not a shift, and an increase in the number of suppliers increases supply, shifting the curve to the right.