CBSE Class 12-commerce Answered
Explain the effect of increase in input prices on the
supply of a good with diagram.
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
Expert Answer
When there is a rise in input prices, there will be an increase in cost of production which results to a decline in profit margin and the supply of good.
When there is an increase input prices, the supply curve S shifts leftwards from S to S1. It leads to a fall in the supply of good from OQ2 to OQ1 where the price remains constant at OP.
Answered by | 25 Apr, 2016, 04:40: PM
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