Which of the following events could shift the supply curve for almonds to the right?

Question

BlackTom AI · Accepted Answer

To determine which event shifts the almond supply curve to the right, I’ll examine how each option affects producers’ costs and incentives.
Option 1: an increase in the market price of corn. If corn becomes more valuable, farmers who grow almonds might allocate more effort or land to corn (a substitute in production), potentially reducing almond supply. This tends to shift the almond supply curve left, not right, because it makes almond production relatively less attractive.
Option 2: a decrease in the market price of almonds. A lower price for almonds would typically cause producers to reduce quantity supplied along the existing supply curve, rather than shift the entire curve. This is a movement along the curve, not a shift of the curve itself.
Option 3: a decrease in land taxes. Lower taxes on land reduce a key input cost for almond producers. With lower costs, producers can supply more almonds at every price, causing the supply curve to shift to the right (an increase in supply).
Option 4: an increase in land taxes. Higher land taxes raise input costs, making production less profitable at any given price, which tends to reduce supply and shift the supply curve to the left.
Overall, the only option that directly increases supply by reducing costs is a decrease in land taxes, which shifts the supply curve for almonds to the right.

ECON3200001.1251 Quiz 2: Supply & Demand

Which of the following events could shift the supply curve for almonds to the right?

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