Which factor will shift the supply curve to the right ?
a ) Decrease in government tax rates .
b ) Increase in production cost .
c ) Decrease in the prices of substitute products .
d ) Increase in consumer's income .
What is the correct answer ?
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Answer:
a) Decrease in government taxes.
Explanation:
Decrease in government taxes reduce the cost of production, this enables the producers to supply more at the same price. This leads to the entire supply curve to shift to the right.
Increase in production cost will shift the supply curve to the left.
Decrease in prices of substitute products might increase the quantity supplied, but will not shift the curve.
Increase in consumer's income will shift the demand curve to the right, not supply curve.
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