Supply Basics — Practice Set 1

The law of supply states that, ceteris paribus:

A rise in the wage rate for bakery workers will shift the supply curve for bread:

An improvement in production technology will:

If sellers expect the price of oil to rise next month, current supply of oil will most likely:

An increase in the number of sellers in a market will:

A government subsidy per unit produced will:

Which of the following causes a movement along the supply curve for wheat?

If a firm can produce either tents or backpacks, a rise in the price of backpacks will:

In the very short run (market period), the supply curve is typically:

A per-unit tax on sellers shifts the supply curve: