Prospectors in South Africa stumble upon a huge supply of rhodium, a rare and valuable industrial mineral. New mining companies spring up rapidly to exploit this resource. What is likely to happen to the supply curve for rhodium as production from this new source comes into the market?

Select answer from the options below

The supply curve will shift to the left because the number of suppliers decreased.

The supply curve will shift to the left because the cost of inputs increased.

The supply curve will shift to the right because the number of suppliers increased.

The supply curve will shift to the right because the cost of inputs decreased.