When an industrys raw material costs increase other things-08993
When an industrys raw material costs increase, other things remaining the same:
This multiple choice question (MCQ) is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Mid Term - Quiz No.5.
When an industrys raw material costs increase, other things remaining the same:
The supply curve shifts to the left.
The supply curve shifts to the right.
Output increases regardless of the market price and the supply curve shifts upward.
Output decreases and the market price also decrease.
