Economy, asked by vipul872, 1 year ago

What is the determinants of supply ?​

Answers

Answered by Michael12
8
<b>

Hello !!

When price changes, quantity supplied will change. That is a movement along the same supply curve. When factors other than price changes, supply curve will shift. Here are some determinantsof the supply curve.

Factors affecting production cost are: input prices, wage rate, government regulation and taxes, etc

Anonymous: thanks fot your information.
Answered by Brainly9b78
2
Determinants of supply are factors that may cause changes in or affect the supply of a product in the market place.

These factors include:

1. Production technology: an improvement of production technology increases the output. This lowers the average and marginal costs, since, with the same production factors, more output is produced.

2. Prices of production factors: a rise in the price of one or more production factors leads to an increase in the production costs and vice versa.

Similar questions