ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Reduction in per unit tax levied by the government will decrease the cost of production and increase supply by the firms due to higher profit margins. In this case the supply curve will shift towards the right.

Detailed explanation-2: -A technological improvement that reduces costs of production will shift supply to the right, causing a greater quantity to be produced at any given price.

Detailed explanation-3: -Factors that can shift the supply curve for goods and services, causing a different quantity to be supplied at any given price, include input prices, natural conditions, changes in technology, and government taxes, regulations, or subsidies.

Detailed explanation-4: -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-5: -which of the following would shift the supply curve for a product to the right? an increase in the price of a resource used in the good’s production.