When of the following matters may account for changes in supply?
I – technological advances in an industry
II – changes in labour costs
III – changes in source of supply
IV – changes in levels of taxation
- I, II
- I, III
- II, III, IV
-
I, II, III, IV
The correct answer is: D
Explanation
A change in supply also known as shifts of the supply curve is determined by other factors affecting supply except price of the commodity when price is constant.