Which would cause a leftward shift in the supply curve for car washes?Multiple Choicea decrease in the price of wateran increase in youth unemploymentan increase in the number of cars on the streetan increase in the price of car washing equipment
Question
Which would cause a leftward shift in the supply curve for car washes?Multiple Choicea decrease in the price of wateran increase in youth unemploymentan increase in the number of cars on the streetan increase in the price of car washing equipment
Solution
The answer is "an increase in the price of car washing equipment".
Here's the step by step explanation:
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A supply curve shows how the quantity of a good or service that a producer is willing and able to supply changes with price.
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A leftward shift in the supply curve means that at any given price, the quantity supplied decreases.
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This can be caused by anything that increases the cost of production.
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In this case, if the price of car washing equipment increases, it would cost more to produce car washes.
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Therefore, car wash providers would be less willing or able to supply the same quantity at any given price, causing a leftward shift in the supply curve.
So, the correct answer is "an increase in the price of car washing equipment".
Similar Questions
An increase in consumer income increases the demand for automobiles. As a result of the adjustment to a new equilibrium, there is a(n):A.leftward shift of the supply curve.B.upward movement along the supply curve.C.downward movement along the supply curve.D.rightward shift of the supply curve.E.no change in the graph.
Which of the following will result in a DECREASE in demand (i.e., a leftward shift of the demand curve)?An increase in the price of a complement to the goodAn increase in income, if the good is normalAn increase in the price of a substitute for the goodAn increase in the size of the market
Which of the following scenarios would likely shift the supply of cars to the left (decrease in supply)?multiple choiceAutomobile workers become more productive.The price of automotive paint decreases.The price of steel and aluminum increase.The price of cars decreases.
Which of the following will result in a rightward shift of the aggregate demand curve?ResponsesAn increase in the income tax rateAn increase in the income tax rateAn increase in exportsAn increase in exportsA decrease in the price levelA decrease in the price levelA decrease in household incomeA decrease in household incomeA decrease in government spending
Which of the following causes the demand curve to shift to the right?*1 pointA. A reduction in the size of populationB. An increase in the income of the buyerC. The availability of substitutesD. A decrease in price of the good
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