A change in which of the following will shift the market supply curve of residential houses to the right?An increase in the price of residential houses.A decrease in the number of residential house buyers.An increase in the number of residential house suppliers.An increase in the cost of land used in residential house development.
Question
A change in which of the following will shift the market supply curve of residential houses to the right?An increase in the price of residential houses.A decrease in the number of residential house buyers.An increase in the number of residential house suppliers.An increase in the cost of land used in residential house development.
Solution
The language of the selected text is English.
The correct answer to the question is: "An increase in the number of residential house suppliers."
Explanation:
A shift to the right in the supply curve represents an increase in supply. This can be caused by a number of factors, including an increase in the number of suppliers.
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An increase in the price of residential houses would not shift the supply curve. It would result in a movement along the supply curve, not a shift.
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A decrease in the number of residential house buyers would affect the demand curve, not the supply curve.
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An increase in the cost of land used in residential house development would likely decrease supply, shifting the supply curve to the left, not the right.
Therefore, the only option that would shift the market supply curve of residential houses to the right is an increase in the number of residential house suppliers.
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