Which of the following is a nonprice determinant of supply?

Question

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?

查看解析

登录即可查看完整答案

类似问题

Which of the following influences a supplier's ability to produce, and thus their supply curve?

Question1.18 What is a determinant that causes a change in supply? Select one alternative: The number of consumers Production costs Household income The price of related goods ResetMaximum marks: 1 Flag question undefined

Which of the following influences a supplier's ability to produce, and thus their supply curve?

Which of the following could cause a decrease in supply in a market?

Which of the following influences a supplier's ability to produce, and thus their supply curve?

Which of the following would cause a contraction of supply of cabbages?

Which of the following would increase the supply of a product?

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单