Other things equal, if the price of a key resource used to produce product x falls, the:______

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05-09-2022
Business

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Other things equal, if the price of a key resource used to produce product x falls, the:______

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Tutorconsortium344idn Tutorconsortium344idn · Answer 1 · 2022-09-09T22:18:23-04:00

Other things equal, if the price of a key resource used to produce product X falls, the: Product supply curve of X will shift to the right.

What is Product supply curve ?

The supply curve in economics is a visual representation of the connection between the cost of an item and the quantity that a seller is willing and able to produce. The vertical axis of the graph reflects product pricing, while the horizontal axis represents supply quantity.

Therefore,

Other things equal, if the price of a key resource used to produce product X falls, the: Product supply curve of X will shift to the right.

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