Answer to Question #54220 in Economics of Enterprise for Shilpi Dubey

Question

Other things remaining the same, what would happen to the supply of a particular commodity if the following changes occur?
a. The price of the commodity decreases.
b. A technological breakthrough enables the good to be produced at a significantly lower cost.
c. The price of inputs used to produce the commodity increases.
d. The price of a commodity that is a substitute in production decreases.
e. The managers of firms that produce the good expect the price of the good to rise in the near future.
f. Firms in the industry purchase more plant and equipment, increasing the productive capacity in the industry.