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Question

A rise in the average and marginal costs of production causes the supply curve of a commodity to shift towards the left at


A

Zero price

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B

Normal price

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C

Higher price

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D

Lower price

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Solution

The correct option is C

Higher price


A rise in the average and marginal costs of production causes the supply curve of a commodity to shift towards the left at a higher price than before because the suppliers are ready to supply the same quantity at the given price.


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