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When of the following matters may account for changes in supply?   I - technological...

Economics
JAMB 2019

When of the following matters may account for changes in supply?

 

I - technological advances in an industry
II - changes in labour costs
III - changes in source of supply
IV - changes in levels of taxation

  • A. I, II
  • B. I, III
  • C. II, III, IV
  • D. I, II, III, IV
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Correct Answer: Option D
Explanation

A change in supply also known as shifts of the supply curve is determined by other factors affecting supply except price of the commodity when price is constant.

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