All the following are factors that would bring about a change in supply except
- level of technology
- government policy
-
Entry of new firms
- Price of the commodity
The correct answer is: C
Explanation
Factors Affecting the Supply of a Commodity
- i. Price of the given Commodity
- ii. Cost of Production:
- iii. Natural Conditions
- iv. State of Technology
- v. Transport Conditions
- vi. Factor Prices and their Availability
- vii. Government's Policies
- viii. Prices of Related Goods