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From course:

Economics A Level (DONEEEEEEE)

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Question:

How can Changes to the Cost of Production lead to a Shift in the Supply Curve? [And Improved Tech]

Author: eric_galvao



Answer:

-Increase in of the Cost of Production [Wages] will lead to Less Profits being made and Lead to a Left Shift. -Had it Decrease, and then more Profits would be made leading to More Profits being made and a Shift to the Right -If Technology Improves then Supply can be Increases as Cost of Production is Lowered.


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