undefined

Figure 4.5 shows the supply curves of a durable good. A shift from the supply curve Sto s' could be caused by a(n): Figure 4.5 Price 2 0 Quantity O decrease in consumer income. increase in the current price of the product. O patent application that restricts the use of a particular production technology. expectation of a higher product price in the future among suppliers. Question 29 Figure 4.4 shows the supply curve for a good. According to the figure given below, which of these will result when price increases from P to P? Figure 4.4 Price P P O Quantity O Quantity supplied will increase. Supply will increase. O Supply will become inelastic. O Supply will decrease