Question

What is meant by leftward shift of supply curve?

Answer 1

Answer:

The rightward shift occurs in supply curve when the quantity of supplied commodity increases at same price due to favorable changes in non-price factors of production of the commodity. Similarly, a leftward shift occurs when the quantity of supplied commodity decreases at the same price.

Answer 2

Answer:

The rightward shift occurs in supply Curve When the quantity of supplied Commodity increases at same price due to favourable changes is non - price factors of production of the commodity . Similarly , a leftward shift occurs when the quantity of supplied Commodity decreases at the same price.