Question

If the price of the cost of production rises, supply will?​

Answer 1

Answer:

automatically decrease

bcoz most of the ppl belongs to poverty so their purchasing power is very low

Answer 2

In Microeconomics,if the cost of production increases,the market supply the concerned good or service will decrease.

Explanation:

An increase in cost or expense of production essentially implies that now the firm,seller or the company has to pay more expenses to produce any concerned product or service and considering the product or service price as same in the market,the sales revenue of the sellers or producers will decrease as a consequence.Therefore,to avoid any revenue loss,the firms or producers will reduce or decrease in the market which will cause an overall reduction in the market supply of the concerned product or service causing a leftward shift of the market supply curve in the demand ans supply framework or graphical model.