Which of the following is a nonprice determinant of supply?

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BlackTom AI · Accepted Answer

The question asks to identify a nonprice determinant of supply, meaning a factor other than the good’s own price that shifts the supply curve.
Option: 'A change in the availability of production inputs' describes how easily and cheaply producers can obtain resources (like raw materials, labor, or capital). When inputs become more available, production costs may fall and supply can increase (shift right). Conversely, if inputs become scarce, production costs rise and supply can decrease (shift left). This fits the definition of a nonprice determinant because it affects supply independently of the good’s market price.
Other common nonprice determinants include technology improvements (which can make production more efficient), expectations about future prices (which can influence current supply), the number of sellers in the market (more sellers typically increase overall supply), and taxes or subsidies (which change the cost structure or incentives for production). These factors influence overall supply without requiring a change in the good’s own price.
Because the question provides a single option, we evaluate whether this option aligns with the concept of a nonprice determinant: yes, changes in the availability of production inputs qualify as a nonprice determinant of supply by affecting production capability and costs rather than the good’s price itself.

ECON 2010-090 Summer 2025 Quiz 3 Due May 22nd

Which of the following is a nonprice determinant of supply?

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