ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An increase in the change in supply shifts the supply curve to the right, while a decrease in the change in supply shifts the supply curve left. Essentially, there is an increase or decrease in the quantity supplied that is paired with a higher or lower supply price.

Detailed explanation-2: -The supply curve will move upward from left to right, which expresses the law of supply: As the price of a given commodity increases, the quantity supplied increases (all else being equal).

Detailed explanation-3: -Increase in the price of an input shifts the marginal cost curve upward. Accordingly, the supply curve shifts upward or to the left implying less supply at the same price (i.e., same supply at a higher price).

Detailed explanation-4: -Prices of relevant inputs-if the cost of resources used to produce a good increases, sellers will be less inclined to supply the same quantity at a given price, and the supply curve will shift to the left.

Detailed explanation-5: -Conversely, if a firm faces higher costs of production, then it will earn lower profits at any given selling price for its products. As a result, a higher cost of production typically causes a firm to supply a smaller quantity at any given price. In this case, the supply curve shifts to the left.