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Question
Macroeconomics
Posted 10 months ago
Which of the following statements correctly describes how an event will impact supply or quantity supplied?

Choose 1 answer:
(A) A price decrease increases quantity supplied.
B) An increase in demand causes an increase in supply.
(C) A decrease in resource costs causes an increase in the supply curve
(D) A price increase causes an increase in supply.
(E) An increase in costs of production causes the supply curve to increase.
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Answer from Sia
Posted 10 months ago
C
Key Concept
Supply Curve Shifts
Explanation
A decrease in resource costs reduces production costs, leading to an increase in supply at all price levels, which is represented by a rightward shift of the supply curve.

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