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Shifts in the market supply curve will?
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- Explain the Market Equilibrium.What components will cause a Shift in the Supply curve? What happens if a market is out of Equilibrium?What will happen in the market for corn if a new crop rotation technique is discovered that allows corn to be grown more easily and the price of green beans, a substitute, decreases?
- The introduction of new technology can affect the amount of supply a business will produce. Will it cause the supply curve to increase or decrease?Shifts in the supply curveThe price of steel, which is used to make paper clips, has increased. The increased price of steel will cause the market supply curve for paper clips to ___ A. Increase B. Decrease C. Stay the same