{"id":55964,"date":"2024-04-16T00:36:25","date_gmt":"2024-04-16T00:36:25","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55964"},"modified":"2024-04-16T00:36:25","modified_gmt":"2024-04-16T00:36:25","slug":"what-best-explains-a-shift-in-market-supply-curve-to-the-right","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/what-best-explains-a-shift-in-market-supply-curve-to-the-right\/","title":{"rendered":"What best explains a shift in market supply curve to the right?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;An advertising campaign is successful in promoting the good&#8221; option2=&#8221;A new technique makes it cheaper to produce the good&#8221; option3=&#8221;The government introduces a tax on the good&#8221; option4=&#8221;The price of raw materials increases&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: B. A new technique makes it cheaper to produce the good.<\/p>\n<p>A shift in the market supply curve to the right indicates that producers are willing and able to supply more of a good at any given price. This can be caused by a number of factors, including:<\/p>\n<ul>\n<li>A decrease in the cost of production. This could be due to technological advances, lower input prices, or government subsidies.<\/li>\n<li>An increase in the number of producers in the market. This could be due to new firms entering the market or existing firms expanding their production.<\/li>\n<li>An increase in the expected future price of the good. This could lead producers to increase their current production in order to stockpile the good for future sale.<\/li>\n<\/ul>\n<p>Option A is incorrect because an advertising campaign is more likely to increase demand for a good, rather than supply. Option C is incorrect because a tax on a good will increase the cost of production, which will lead producers to supply less of the good. Option D is incorrect because an increase in the price of raw materials will increase the cost of production, which will lead producers to supply less of the good.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;An advertising campaign is successful in promoting the good&#8221; option2=&#8221;A new technique makes it cheaper to produce the good&#8221; option3=&#8221;The government introduces a tax on the good&#8221; option4=&#8221;The price of raw materials increases&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-55964","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What best explains a shift in market supply curve to the right?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/what-best-explains-a-shift-in-market-supply-curve-to-the-right\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What best explains a shift in market supply curve to the right?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;An advertising campaign is successful in promoting the good&#8221; 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